ABCL vs SDGR: Correlation
How closely do AbCellera Biologics Inc. (ABCL) and Schrodinger, Inc. (SDGR) trade together? Their weekly returns over three years give a correlation of 0.50, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABCL and SDGR?
Across a 3-year window, the weekly returns of ABCL and SDGR correlate at 0.50, moderate. The relationship has been stable: the 1-year correlation (0.51) sits close to the 3-year figure. Stretching to 5 years gives 0.45, with an annualized covariance of 2308.2 %².
In ABCL's tracked universe of 17 assets, SDGR sits right near the top at #3. Their recent paths diverged sharply: over the last 12 months ABCL outperformed by 182.0 percentage points (+185.1% for ABCL against +3.1% for SDGR).
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 SDGR: side by side
| ABCL (AbCellera Biologics Inc.) | SDGR (Schrodinger, Inc.) | |
|---|---|---|
| 1-year return | +185.1% | +3.1% |
| 5-year return | -28.5% | -65.2% |
| Volatility (ann.) | 80.2% | 57.7% |
| Beta vs S&P 500 | 1.75 | 1.91 |
| Max drawdown (3Y) | -67.7% | -70.2% |
| Market cap | $4.0B | $1.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ABCL | SDGR |
|---|---|---|
| 2022 | -29.2% | -46.3% |
| 2023 | -43.6% | +91.5% |
| 2024 | -48.7% | -46.1% |
| 2025 | +16.7% | -7.3% |
| 2026 | +262.6% | +14.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABCL and SDGR good diversifiers for each other?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ABCL and SDGR?
The ABCL/SDGR correlation stands at 0.50 on a 3-year window (1 year: 0.51, 5 years: 0.45), computed from weekly returns as of 2026-08-27.
Is SDGR a good diversifier for ABCL?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.50 mean?
On the −1 to +1 scale, 0.50 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: ABCL correlations · SDGR correlations
