TARS vs TPST: Correlation
Measured on weekly returns over the past three years, Tarsus Pharmaceuticals, Inc. (TARS) and Tempest Therapeutics, Inc. (TPST) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TARS and TPST?
Across a 3-year window, the weekly returns of TARS and TPST correlate at -0.28, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.04 versus -0.28 over 3 years. Stretching to 5 years gives -0.18, with an annualized covariance of -11786.0 %².
TPST is close to the least connected end of TARS's tracked universe, ranking #15 of 15. The last year tells two different stories: TARS led by 114.4 percentage points, +24.4% for TARS against -90.0% for TPST. Note the risk asymmetry: TPST runs 14.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
TARS vs TPST: side by side
| TARS (Tarsus Pharmaceuticals, Inc.) | TPST (Tempest Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +24.4% | -90.0% |
| 5-year return | +171.4% | -99.4% |
| Volatility (ann.) | 53.2% | 782.8% |
| Beta vs S&P 500 | 0.51 | 1.97 |
| Max drawdown (3Y) | -45.1% | -99.3% |
| Market cap | $3.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TARS | TPST |
|---|---|---|
| 2022 | -34.8% | -78.2% |
| 2023 | +38.1% | +282.6% |
| 2024 | +173.4% | -81.0% |
| 2025 | +47.9% | -73.6% |
| 2026 | -12.2% | -62.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TARS and TPST good diversifiers for each other?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
FAQ
What is the correlation between TARS and TPST?
The TARS/TPST correlation stands at -0.28 on a 3-year window (1 year: 0.04, 5 years: -0.18), computed from weekly returns as of 2026-08-27.
Is TPST a good diversifier for TARS?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
What does a correlation of -0.28 mean?
On the −1 to +1 scale, -0.28 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: TARS correlations · TPST correlations
