AAME vs CADL: Correlation
Measured on weekly returns over the past three years, Atlantic American Corporation (AAME) and Candel Therapeutics, Inc. (CADL) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AAME and CADL?
Over the past 3 years, AAME and CADL moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.32) sits close to the 3-year figure. Over 5 years the correlation is -0.18, and the annualized covariance of weekly returns is -3116.7 %².
CADL is close to the least connected end of AAME's tracked universe, ranking #11 of 11. The last year tells two different stories: CADL led by 186.9 percentage points, -54.2% for AAME against +132.7% for CADL. Note the risk asymmetry: CADL runs 3.5 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.
AAME vs CADL: side by side
| AAME (Atlantic American Corporation) | CADL (Candel Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -54.2% | +132.7% |
| 5-year return | -57.7% | +73.2% |
| Volatility (ann.) | 59.6% | 207.2% |
| Beta vs S&P 500 | 0.77 | 0.60 |
| Max drawdown (3Y) | -63.5% | -72.9% |
| Market cap | – | $1.1B |
| P/E (trailing) | 5.6 | – |
| Dividend yield | 1.54% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AAME | CADL |
|---|---|---|
| 2022 | -4.0% | -77.1% |
| 2023 | +5.9% | -17.9% |
| 2024 | -36.6% | +490.5% |
| 2025 | +86.6% | -34.9% |
| 2026 | -44.5% | +143.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AAME and CADL good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AAME and CADL?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.32 over the last year and -0.18 over 5 years.
Is CADL a good diversifier for AAME?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aame-vs-cadl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aame-vs-cadl/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AAME correlations · CADL correlations
