ALMS vs ELVN: Correlation
How closely do Alumis Inc. (ALMS) and Enliven Therapeutics, Inc. (ELVN) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALMS and ELVN?
Over the past 3 years, ALMS and ELVN moved with a correlation of 0.42, which is moderate. The past 12 months show a tighter link (0.68) than the 3-year average (0.42). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 4346.9 %².
Few assets follow ALMS as closely as ELVN, which ranks #3 of 92 tracked partners. The last year tells two different stories: ALMS led by 179.1 percentage points, +371.7% for ALMS against +192.6% for ELVN. One caveat on sizing: ALMS is 1.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ALMS vs ELVN: side by side
| ALMS (Alumis Inc.) | ELVN (Enliven Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +371.7% | +192.6% |
| 5-year return | n/a | +225.3% |
| Volatility (ann.) | 130.0% | 84.7% |
| Beta vs S&P 500 | -1.50 | 1.32 |
| Max drawdown (3Y) | -78.9% | -49.5% |
| Market cap | $3.0B | $4.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALMS | ELVN |
|---|---|---|
| 2022 | – | +81.8% |
| 2023 | – | -15.4% |
| 2024 | – | +62.6% |
| 2025 | +24.2% | -31.6% |
| 2026 | +137.8% | +292.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALMS and ELVN good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ALMS and ELVN?
The ALMS/ELVN correlation stands at 0.42 on a 3-year window (1 year: 0.68, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is ELVN a good diversifier for ALMS?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/alms-vs-elvn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/alms-vs-elvn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALMS correlations · ELVN correlations
