ALMS vs ERAS: Correlation
Measured on weekly returns over the past three years, Alumis Inc. (ALMS) and Erasca, Inc. (ERAS) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALMS and ERAS?
Over the past 3 years, ALMS and ERAS moved with a correlation of 0.39, which is moderate. The link has tightened recently: the 1-year correlation (0.69) runs above the 3-year figure (0.39). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 5339.8 %².
Within ALMS's tracked universe of 92 assets, ERAS comes in at #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ERAS outperformed by 761.8 percentage points (+371.7% for ALMS 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.
ALMS vs ERAS: side by side
| ALMS (Alumis Inc.) | ERAS (Erasca, Inc.) | |
|---|---|---|
| 1-year return | +371.7% | +1133.5% |
| 5-year return | n/a | -17.1% |
| Volatility (ann.) | 130.0% | 99.2% |
| Beta vs S&P 500 | -1.50 | 1.88 |
| Max drawdown (3Y) | -78.9% | -67.7% |
| Market cap | $3.0B | $6.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALMS | ERAS |
|---|---|---|
| 2022 | – | -72.3% |
| 2023 | – | -50.6% |
| 2024 | – | +17.8% |
| 2025 | +24.2% | +48.2% |
| 2026 | +137.8% | +423.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALMS and ERAS good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ALMS and ERAS?
As of 2026-08-27, the correlation of weekly returns between ALMS and ERAS is 0.39 over 3 years, 0.69 over 1 year and n/a over 5 years.
Is ERAS a good diversifier for ALMS?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.39 mean?
On the −1 to +1 scale, 0.39 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-eras.json
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Related comparisons
Hubs: ALMS correlations · ERAS correlations
