ALMS vs ICL: Correlation
Alumis Inc. (ALMS) and ICL Group Ltd. (ICL) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALMS and ICL?
Across a 3-year window, the weekly returns of ALMS and ICL correlate at -0.23, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.19) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -1195.6 %².
By 3-year correlation, ICL places #53 of the 92 assets tracked against ALMS. Their recent paths diverged sharply: over the last 12 months ALMS outperformed by 382.3 percentage points (+371.7% for ALMS against -10.6% for ICL). One caveat on sizing: ALMS is 3.4 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 ICL: side by side
| ALMS (Alumis Inc.) | ICL (ICL Group Ltd.) | |
|---|---|---|
| 1-year return | +371.7% | -10.6% |
| 5-year return | n/a | +2.5% |
| Volatility (ann.) | 130.0% | 37.8% |
| Beta vs S&P 500 | -1.50 | 0.81 |
| Max drawdown (3Y) | -78.9% | -35.6% |
| Market cap | $3.0B | – |
| P/E (trailing) | – | 23.6 |
| Dividend yield | 0.00% | 3.64% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALMS | ICL |
|---|---|---|
| 2022 | – | -16.9% |
| 2023 | – | -27.2% |
| 2024 | – | +2.8% |
| 2025 | +24.2% | +17.1% |
| 2026 | +137.8% | +1.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALMS and ICL good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between ALMS and ICL?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.19 over the last year and n/a over 5 years.
Is ICL a good diversifier for ALMS?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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-icl.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/alms-vs-icl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALMS correlations · ICL correlations
