SPRY vs. EWTX

Last updated Jun 24, 2026

SPRY (Silverback Therapeutics Inc) and EWTX (Edgewise Therapeutics Inc) are both stocks. Both operate in the Biotechnology industry within the Healthcare sector. Over the past 5 years, SPRY returned -20.88%/yr vs 9.21%/yr for EWTX. At a 0.26 correlation, their price movements are largely independent.

Performance

SPRY vs. EWTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Silverback Therapeutics Inc (SPRY) and Edgewise Therapeutics Inc (EWTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPRY achieves a -11.76% return, which is significantly lower than EWTX's 56.48% return.

SPRY

• 1D: 3.01%
• 1M: 29.47%
• YTD: -11.76%
• 6M: -6.80%
• 1Y: -37.96%
• 3Y*: 17.85%
• 5Y*: -20.88%
• 10Y*: —

EWTX

• 1D: 6.38%
• 1M: 18.75%
• YTD: 56.48%
• 6M: 78.57%
• 1Y: 173.84%
• 3Y*: 72.23%
• 5Y*: 9.21%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SPRY vs. EWTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SPRY Silverback Therapeutics Inc	-11.76%	10.43%	92.52%	-35.76%	28.08%	-86.68%
EWTX Edgewise Therapeutics Inc	56.48%	-7.06%	144.06%	22.37%	-41.49%	-43.41%

Correlation

The correlation between SPRY and EWTX is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (All Time) Calculated using the full available price history since Mar 26, 2021	0.26

Fundamentals

Market Cap SPRY : $1.02B EWTX : $4.16B
EPS SPRY : -$2.00 EWTX : -$1.67
PB Ratio SPRY : 16.65 EWTX : 8.43
Total Revenue (TTM) SPRY : $98.99M EWTX : $0.00
Gross Profit (TTM) SPRY : $59.93M EWTX : $0.00
EBITDA (TTM) SPRY : -$194.60M EWTX : -$188.16M

Return for Risk

SPRY vs. EWTX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SPRY

SPRY Risk / Return Rank: 21
SPRY Sharpe Ratio Rank: 17
SPRY Sortino Ratio Rank: 19
SPRY Omega Ratio Rank: 20
SPRY Calmar Ratio Rank: 21
SPRY Martin Ratio Rank: 26

EWTX

EWTX Risk / Return Rank: 93
EWTX Sharpe Ratio Rank: 92
EWTX Sortino Ratio Rank: 91
EWTX Omega Ratio Rank: 88
EWTX Calmar Ratio Rank: 97
EWTX Martin Ratio Rank: 97

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SPRY vs. EWTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Silverback Therapeutics Inc (SPRY) and Edgewise Therapeutics Inc (EWTX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	SPRY	EWTX	Difference
Sharpe ratio: Return per unit of total volatility	-0.58	2.34	-2.91
Sortino ratio: Return per unit of downside risk	-0.57	3.24	-3.82
Omega ratio: Gain probability vs. loss probability	0.94	1.39	-0.45
Calmar ratio: Return relative to maximum drawdown	-0.60	8.93	-9.53
Martin ratio: Return relative to average drawdown	-0.85	22.39	-23.25

SPRY vs. EWTX - Sharpe Ratio Comparison

The current SPRY Sharpe Ratio is -0.58, which is lower than the EWTX Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of SPRY and EWTX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SPRY vs. EWTX - Drawdown Comparison

The maximum SPRY drawdown since its inception was -95.20%, which is greater than EWTX's maximum drawdown of -84.69%. Use the drawdown chart below to compare losses from any high point for SPRY and EWTX.

Drawdown Indicators

	SPRY	EWTX	Difference
Max Drawdown Largest peak-to-trough decline	-95.20%	-84.69%	-10.51%
Max Drawdown (1Y) Largest decline over 1 year	-63.32%	-19.59%	-43.73%
Max Drawdown (3Y) Largest decline over 3 years	-63.32%	-68.81%	+5.49%
Max Drawdown (5Y) Largest decline over 5 years	-91.77%	-77.14%	-14.63%
Current Drawdown Current decline from peak	-82.98%	-3.55%	-79.43%
Average Drawdown Average peak-to-trough decline	-78.26%	-53.27%	-24.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	44.52%	7.80%	+36.72%

Volatility

SPRY vs. EWTX - Volatility Comparison

The current volatility for Silverback Therapeutics Inc (SPRY) is 18.34%, while Edgewise Therapeutics Inc (EWTX) has a volatility of 22.78%. This indicates that SPRY experiences smaller price fluctuations and is considered to be less risky than EWTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPRY	EWTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.34%	22.78%	-4.44%
Volatility (6M) Calculated over the trailing 6-month period	45.49%	55.75%	-10.26%
Volatility (1Y) Calculated over the trailing 1-year period	66.37%	74.79%	-8.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	80.08%	81.58%	-1.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	80.79%	81.12%	-0.33%

Dividends

SPRY vs. EWTX - Dividend Comparison

Neither SPRY nor EWTX has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both SPRY and EWTX in my portfolio?

SPRY and EWTX have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPRY or EWTX?

EWTX has higher volatility (22.78%) compared to SPRY (18.34%). In terms of maximum drawdown, SPRY dropped -95.20% vs EWTX's -84.69%.

Which has better risk-adjusted returns?

EWTX currently has the higher Sharpe Ratio (2.34 vs -0.58), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.