ALCO vs CLDI: Correlation
How closely do Alico, Inc. (ALCO) and Calidi Biotherapeutics, Inc. (CLDI) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALCO and CLDI?
Across a 3-year window, the weekly returns of ALCO and CLDI correlate at -0.19, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.29 versus -0.19 over 3 years. Stretching to 5 years gives -0.15, with an annualized covariance of -914.6 %².
Out of 11 assets tracked against ALCO, CLDI lands near the bottom at #9. Their recent paths diverged sharply: over the last 12 months ALCO outperformed by 112.8 percentage points (+17.7% for ALCO against -95.1% for CLDI). One caveat on sizing: CLDI is 7.0 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.
ALCO vs CLDI: side by side
| ALCO (Alico, Inc.) | CLDI (Calidi Biotherapeutics, Inc.) | |
|---|---|---|
| 1-year return | +17.7% | -95.1% |
| 5-year return | +16.5% | -100.0% |
| Volatility (ann.) | 26.2% | 182.9% |
| Beta vs S&P 500 | 0.35 | 1.03 |
| Max drawdown (3Y) | -19.6% | -100.0% |
| Market cap | $0.3B | – |
| P/E (trailing) | 199.1 | – |
| Dividend yield | 0.49% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALCO | CLDI |
|---|---|---|
| 2022 | -32.6% | +3.7% |
| 2023 | +22.8% | -85.2% |
| 2024 | -10.2% | -92.4% |
| 2025 | +41.0% | -91.5% |
| 2026 | +9.9% | -93.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALCO and CLDI good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ALCO and CLDI?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with 0.29 over the last year and -0.15 over 5 years.
Is CLDI a good diversifier for ALCO?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 mean?
A reading of -0.19 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/alco-vs-cldi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/alco-vs-cldi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALCO correlations · CLDI correlations
