AGEN vs CGEM: Correlation
Measured on weekly returns over the past three years, Agenus Inc. (AGEN) and Cullinan Therapeutics, Inc. (CGEM) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGEN and CGEM?
Over the past 3 years, AGEN and CGEM moved with a correlation of 0.41, which is moderate. The link has loosened recently: the 1-year correlation (0.11) runs below the 3-year figure (0.41). Over 5 years the correlation is 0.40, and the annualized covariance of weekly returns is 3724.8 %².
In AGEN's tracked universe of 11 assets, CGEM sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months CGEM outperformed by 113.0 percentage points (+72.0% for AGEN against +185.0% for CGEM). One caveat on sizing: AGEN is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
AGEN vs CGEM: side by side
| AGEN (Agenus Inc.) | CGEM (Cullinan Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +72.0% | +185.0% |
| 5-year return | -94.0% | -23.5% |
| Volatility (ann.) | 126.6% | 72.4% |
| Beta vs S&P 500 | 2.72 | 1.20 |
| Max drawdown (3Y) | -94.7% | -80.4% |
| Market cap | $0.4B | $1.4B |
| P/E (trailing) | 2.8 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AGEN | CGEM |
|---|---|---|
| 2022 | -25.5% | -31.6% |
| 2023 | -64.8% | -3.4% |
| 2024 | -83.5% | +19.5% |
| 2025 | +14.6% | -15.0% |
| 2026 | +148.7% | +118.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGEN and CGEM good diversifiers for each other?
Reasonably. At 0.41, AGEN and CGEM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AGEN and CGEM?
As of 2026-08-27, the correlation of weekly returns between AGEN and CGEM is 0.41 over 3 years, 0.11 over 1 year and 0.40 over 5 years.
Is CGEM a good diversifier for AGEN?
Reasonably. At 0.41, AGEN and CGEM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 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/agen-vs-cgem.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/agen-vs-cgem/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AGEN correlations · CGEM correlations
