ALEC vs FLNA: Correlation
Measured on weekly returns over the past three years, Alector, Inc. (ALEC) and Filana Therapeutics, Inc. (FLNA) carry a correlation of 0.29, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALEC and FLNA?
Over the past 3 years, ALEC and FLNA moved with a correlation of 0.29, which is weak. Recent behaviour matches the longer record: 0.34 over 1 year against 0.29 over 3. Over 5 years the correlation is 0.25, and the annualized covariance of weekly returns is 2984.5 %².
FLNA is close to the least connected end of ALEC's tracked universe, ranking #7 of 11. The last year tells two different stories: ALEC led by 59.6 percentage points, -0.4% for ALEC against -60.0% for FLNA.
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.
ALEC vs FLNA: side by side
| ALEC (Alector, Inc.) | FLNA (Filana Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -0.4% | -60.0% |
| 5-year return | -90.9% | -98.3% |
| Volatility (ann.) | 90.5% | 115.4% |
| Beta vs S&P 500 | 2.06 | 0.88 |
| Max drawdown (3Y) | -89.2% | -97.5% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALEC | FLNA |
|---|---|---|
| 2022 | -55.3% | -32.4% |
| 2023 | -13.5% | -23.8% |
| 2024 | -76.3% | -89.5% |
| 2025 | -17.5% | -16.1% |
| 2026 | +53.2% | -53.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALEC and FLNA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.29 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ALEC and FLNA?
As of 2026-08-27, the correlation of weekly returns between ALEC and FLNA is 0.29 over 3 years, 0.34 over 1 year and 0.25 over 5 years.
Is FLNA a good diversifier for ALEC?
Yes, to a useful degree: a correlation of 0.29 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.29 mean?
On the −1 to +1 scale, 0.29 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: ALEC correlations · FLNA correlations
