ALLO vs BEAM: Correlation
Measured on weekly returns over the past three years, Allogene Therapeutics, Inc. (ALLO) and Beam Therapeutics Inc. (BEAM) carry a correlation of 0.54, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALLO and BEAM?
Over the past 3 years, ALLO and BEAM moved with a correlation of 0.54, which is moderate. The past 12 months show a weaker link (0.26) than the 3-year average (0.54). Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 3260.6 %².
BEAM is one of the assets that tracks ALLO most closely: it ranks #3 out of the 21 assets we track against ALLO. Twelve-month performance is nearly a tie, at +80.2% for ALLO and +80.8% for BEAM.
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.
ALLO vs BEAM: side by side
| ALLO (Allogene Therapeutics, Inc.) | BEAM (Beam Therapeutics Inc.) | |
|---|---|---|
| 1-year return | +80.2% | +80.8% |
| 5-year return | -91.3% | -71.5% |
| Volatility (ann.) | 83.3% | 72.6% |
| Beta vs S&P 500 | 1.96 | 2.39 |
| Max drawdown (3Y) | -83.1% | -67.7% |
| Market cap | $0.7B | $3.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALLO | BEAM |
|---|---|---|
| 2022 | -57.8% | -50.9% |
| 2023 | -49.0% | -30.4% |
| 2024 | -33.6% | -8.9% |
| 2025 | -35.7% | +11.8% |
| 2026 | +52.6% | +10.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALLO and BEAM good diversifiers for each other?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ALLO and BEAM?
The ALLO/BEAM correlation stands at 0.54 on a 3-year window (1 year: 0.26, 5 years: 0.49), computed from weekly returns as of 2026-08-27.
Is BEAM a good diversifier for ALLO?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.54 mean?
On the −1 to +1 scale, 0.54 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: ALLO correlations · BEAM correlations
