ALLR vs TECX: Correlation
Measured on weekly returns over the past three years, Allarity Therapeutics, Inc. (ALLR) and Tectonic Therapeutic, Inc. (TECX) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALLR and TECX?
Across a 3-year window, the weekly returns of ALLR and TECX correlate at -0.25, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.13 versus -0.25 over 3 years. Stretching to 5 years gives -0.18, with an annualized covariance of -17010.2 %².
Out of 10 assets tracked against ALLR, TECX lands near the bottom at #10. Their recent paths diverged sharply: over the last 12 months TECX outperformed by 51.4 percentage points (-13.2% for ALLR against +38.2% for TECX). Risk is not evenly split, since TECX carries 5.8 times the volatility of the other side.
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.
ALLR vs TECX: side by side
| ALLR (Allarity Therapeutics, Inc.) | TECX (Tectonic Therapeutic, Inc.) | |
|---|---|---|
| 1-year return | -13.2% | +38.2% |
| 5-year return | -100.0% | -52.9% |
| Volatility (ann.) | 107.8% | 628.0% |
| Beta vs S&P 500 | 1.25 | 0.20 |
| Max drawdown (3Y) | -99.9% | -92.8% |
| Market cap | – | $0.7B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALLR | TECX |
|---|---|---|
| 2022 | -97.2% | -81.6% |
| 2023 | -99.9% | +91.5% |
| 2024 | -99.6% | +182.9% |
| 2025 | -7.7% | -54.8% |
| 2026 | +27.8% | +75.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALLR and TECX good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ALLR and TECX?
The ALLR/TECX correlation stands at -0.25 on a 3-year window (1 year: 0.13, 5 years: -0.18), computed from weekly returns as of 2026-08-27.
Is TECX a good diversifier for ALLR?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 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/allr-vs-tecx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/allr-vs-tecx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALLR correlations · TECX correlations
