ABCL vs ONCY: Correlation
AbCellera Biologics Inc. (ABCL) and Oncolytics Biotech Inc. (ONCY) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABCL and ONCY?
On 3 years of weekly data the ABCL/ONCY correlation comes out at 0.40, moderate. Recent behaviour matches the longer record: 0.37 over 1 year against 0.40 over 3. The 5-year figure is 0.31, and annualized covariance runs at 2615.8 %².
Among the 17 assets we track against ABCL, ONCY ranks #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ABCL outperformed by 204.9 percentage points (+185.1% for ABCL against -19.8% for ONCY).
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.
ABCL vs ONCY: side by side
| ABCL (AbCellera Biologics Inc.) | ONCY (Oncolytics Biotech Inc.) | |
|---|---|---|
| 1-year return | +185.1% | -19.8% |
| 5-year return | -28.5% | -61.2% |
| Volatility (ann.) | 80.2% | 80.8% |
| Beta vs S&P 500 | 1.75 | 1.15 |
| Max drawdown (3Y) | -67.7% | -86.2% |
| Market cap | $4.0B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ABCL | ONCY |
|---|---|---|
| 2022 | -29.2% | +17.3% |
| 2023 | -43.6% | -17.2% |
| 2024 | -48.7% | -32.6% |
| 2025 | +16.7% | -4.4% |
| 2026 | +262.6% | -2.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABCL and ONCY good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ABCL and ONCY?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.37 over the last year and 0.31 over 5 years.
Is ONCY a good diversifier for ABCL?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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/abcl-vs-oncy.json
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Related comparisons
Hubs: ABCL correlations · ONCY correlations
