ALMS vs HYG: Correlation
How closely do Alumis Inc. (ALMS) and iShares iBoxx High Yield Corporate Bond ETF (HYG) trade together? Their weekly returns over three years give a correlation of -0.14, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALMS and HYG?
Over the past 3 years, ALMS and HYG moved with a correlation of -0.14, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.12) runs above the 3-year figure (-0.14). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -71.2 %².
By 3-year correlation, HYG places #12 of the 92 assets tracked against ALMS. Correlation aside, the last 12 months split them widely, with ALMS ahead by 367.1 points (+371.7% versus +4.6%). Risk is not evenly split, since ALMS carries 27.7 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.
ALMS vs HYG: side by side
| ALMS (Alumis Inc.) | HYG (iShares iBoxx High Yield Corporate Bond ETF) | |
|---|---|---|
| 1-year return | +371.7% | +4.6% |
| 5-year return | n/a | +19.9% |
| Volatility (ann.) | 130.0% | 4.7% |
| Beta vs S&P 500 | -1.50 | 0.22 |
| Max drawdown (3Y) | -78.9% | -4.6% |
| Market cap | $3.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 5.94% |
| Expense ratio | – | 0.49% |
| Assets under management | – | $17.1B |
| Sector / category | US Listed | ETF · Bonds |
HYG is a High Yield Bond fund from iShares: $17.1B under management, a 0.49% expense ratio, a 5.94% trailing dividend yield.
Year-by-year returns
| Year | ALMS | HYG |
|---|---|---|
| 2022 | – | -11.0% |
| 2023 | – | +11.5% |
| 2024 | – | +8.0% |
| 2025 | +24.2% | +8.6% |
| 2026 | +137.8% | +2.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALMS and HYG good diversifiers for each other?
By historical standards, yes. A correlation of -0.14 means the two rarely move for the same reasons.
FAQ
What is the correlation between ALMS and HYG?
As of 2026-08-27, the correlation of weekly returns between ALMS and HYG is -0.14 over 3 years, 0.12 over 1 year and n/a over 5 years.
Is HYG a good diversifier for ALMS?
By historical standards, yes. A correlation of -0.14 means the two rarely move for the same reasons.
What does a correlation of -0.14 mean?
A reading of -0.14 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/alms-vs-hyg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/alms-vs-hyg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALMS correlations · HYG correlations
