ALMS vs SPOT: Correlation
Measured on weekly returns over the past three years, Alumis Inc. (ALMS) and Spotify Technology S.A. (SPOT) carry a correlation of -0.34, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALMS and SPOT?
Over the past 3 years, ALMS and SPOT moved with a correlation of -0.34, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.23) than the 3-year average (-0.34). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -1855.8 %².
Among the 92 assets we track against ALMS, SPOT sits near the bottom by co-movement, at rank #88. Correlation aside, the last 12 months split them widely, with ALMS ahead by 395.6 points (+371.7% versus -23.9%). Note the risk asymmetry: ALMS runs 3.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 SPOT: side by side
| ALMS (Alumis Inc.) | SPOT (Spotify Technology S.A.) | |
|---|---|---|
| 1-year return | +371.7% | -23.9% |
| 5-year return | n/a | +126.2% |
| Volatility (ann.) | 130.0% | 39.5% |
| Beta vs S&P 500 | -1.50 | 0.85 |
| Max drawdown (3Y) | -78.9% | -46.8% |
| Market cap | $3.0B | $108.4B |
| P/E (trailing) | – | 29.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALMS | SPOT |
|---|---|---|
| 2022 | – | -66.3% |
| 2023 | – | +138.0% |
| 2024 | – | +138.1% |
| 2025 | +24.2% | +29.8% |
| 2026 | +137.8% | -9.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALMS and SPOT good diversifiers for each other?
Yes: at -0.34, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ALMS and SPOT?
As of 2026-08-27, the correlation of weekly returns between ALMS and SPOT is -0.34 over 3 years, -0.23 over 1 year and n/a over 5 years.
Is SPOT a good diversifier for ALMS?
Yes: at -0.34, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.34 mean?
On the −1 to +1 scale, -0.34 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-spot.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/alms-vs-spot/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ALMS correlations · SPOT correlations
