ALMS vs SM: Correlation
Alumis Inc. (ALMS) and SM Energy Company (SM) show a negative relationship: their 3-year correlation of weekly returns is -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALMS and SM?
Over the past 3 years, ALMS and SM moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.17 over 1 year against -0.24 over 3. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -1600.2 %².
Among the 92 assets we track against ALMS, SM ranks #61 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ALMS ahead by 335.6 points (+371.7% versus +36.1%). One caveat on sizing: ALMS is 2.7 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 SM: side by side
| ALMS (Alumis Inc.) | SM (SM Energy Company) | |
|---|---|---|
| 1-year return | +371.7% | +36.1% |
| 5-year return | n/a | +114.6% |
| Volatility (ann.) | 130.0% | 47.6% |
| Beta vs S&P 500 | -1.50 | 0.44 |
| Max drawdown (3Y) | -78.9% | -64.9% |
| Market cap | $3.0B | $8.8B |
| P/E (trailing) | – | 6.3 |
| Dividend yield | 0.00% | 2.32% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALMS | SM |
|---|---|---|
| 2022 | – | +18.6% |
| 2023 | – | +13.1% |
| 2024 | – | +1.8% |
| 2025 | +24.2% | -49.7% |
| 2026 | +137.8% | +99.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALMS and SM good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ALMS and SM?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.17 over the last year and n/a over 5 years.
Is SM a good diversifier for ALMS?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 mean?
A reading of -0.24 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ALMS correlations · SM correlations
