ALLO vs NKTX: Correlation
How closely do Allogene Therapeutics, Inc. (ALLO) and Nkarta, Inc. (NKTX) trade together? Their weekly returns over three years give a correlation of 0.45, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALLO and NKTX?
Over the past 3 years, ALLO and NKTX moved with a correlation of 0.45, which is moderate. The link has loosened recently: the 1-year correlation (0.27) runs below the 3-year figure (0.45). Over 5 years the correlation is 0.38, and the annualized covariance of weekly returns is 3814.1 %².
Within ALLO's tracked universe of 21 assets, NKTX comes in at #12 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ALLO outperformed by 57.4 percentage points (+80.2% for ALLO against +22.8% for NKTX).
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 NKTX: side by side
| ALLO (Allogene Therapeutics, Inc.) | NKTX (Nkarta, Inc.) | |
|---|---|---|
| 1-year return | +80.2% | +22.8% |
| 5-year return | -91.3% | -91.9% |
| Volatility (ann.) | 83.3% | 101.5% |
| Beta vs S&P 500 | 1.96 | 1.78 |
| Max drawdown (3Y) | -83.1% | -91.3% |
| Market cap | $0.7B | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALLO | NKTX |
|---|---|---|
| 2022 | -57.8% | -61.0% |
| 2023 | -49.0% | +10.2% |
| 2024 | -33.6% | -62.3% |
| 2025 | -35.7% | -25.7% |
| 2026 | +52.6% | +48.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALLO and NKTX good diversifiers for each other?
Reasonably. At 0.45, ALLO and NKTX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ALLO and NKTX?
As of 2026-08-27, the correlation of weekly returns between ALLO and NKTX is 0.45 over 3 years, 0.27 over 1 year and 0.38 over 5 years.
Is NKTX a good diversifier for ALLO?
Reasonably. At 0.45, ALLO and NKTX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 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.
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Related comparisons
Hubs: ALLO correlations · NKTX correlations
