ALLO vs ERAS: Correlation
Allogene Therapeutics, Inc. (ALLO) and Erasca, Inc. (ERAS) show a moderate relationship: their 3-year correlation of weekly returns is 0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALLO and ERAS?
On 3 years of weekly data the ALLO/ERAS correlation comes out at 0.46, moderate. The past 12 months show a weaker link (0.32) than the 3-year average (0.46). The 5-year figure is 0.46, and annualized covariance runs at 3809.2 %².
Among the 21 assets we track against ALLO, ERAS ranks #10 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ERAS outperformed by 1053.3 percentage points (+80.2% for ALLO against +1133.5% for ERAS).
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 ERAS: side by side
| ALLO (Allogene Therapeutics, Inc.) | ERAS (Erasca, Inc.) | |
|---|---|---|
| 1-year return | +80.2% | +1133.5% |
| 5-year return | -91.3% | -17.1% |
| Volatility (ann.) | 83.3% | 99.2% |
| Beta vs S&P 500 | 1.96 | 1.88 |
| Max drawdown (3Y) | -83.1% | -67.7% |
| Market cap | $0.7B | $6.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALLO | ERAS |
|---|---|---|
| 2022 | -57.8% | -72.3% |
| 2023 | -49.0% | -50.6% |
| 2024 | -33.6% | +17.8% |
| 2025 | -35.7% | +48.2% |
| 2026 | +52.6% | +423.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALLO and ERAS good diversifiers for each other?
Reasonably. At 0.46, ALLO and ERAS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ALLO and ERAS?
Using weekly returns as of 2026-08-27: 0.46 over 3 years, with 0.32 over the last year and 0.46 over 5 years.
Is ERAS a good diversifier for ALLO?
Reasonably. At 0.46, ALLO and ERAS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.46 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/allo-vs-eras.json
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Related comparisons
Hubs: ALLO correlations · ERAS correlations
