ALTO vs ANTX: Correlation
Alto Ingredients, Inc. (ALTO) and AN2 Therapeutics, Inc. (ANTX) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALTO and ANTX?
Across a 3-year window, the weekly returns of ALTO and ANTX correlate at 0.40, moderate. The link has tightened recently: the 1-year correlation (0.59) runs above the 3-year figure (0.40). Stretching to 5 years gives 0.33, with an annualized covariance of 4921.4 %².
ANTX is one of the assets that tracks ALTO most closely: it ranks #3 out of the 15 assets we track against ALTO. Their recent paths diverged sharply: over the last 12 months ANTX outperformed by 114.0 percentage points (+289.5% for ALTO against +403.5% for ANTX).
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.
ALTO vs ANTX: side by side
| ALTO (Alto Ingredients, Inc.) | ANTX (AN2 Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +289.5% | +403.5% |
| 5-year return | -16.4% | -62.7% |
| Volatility (ann.) | 93.7% | 131.4% |
| Beta vs S&P 500 | 0.15 | 0.22 |
| Max drawdown (3Y) | -84.1% | -95.4% |
| Market cap | $0.3B | $0.2B |
| P/E (trailing) | 6.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALTO | ANTX |
|---|---|---|
| 2022 | -40.1% | – |
| 2023 | -7.6% | +115.0% |
| 2024 | -41.4% | -93.3% |
| 2025 | +84.6% | -17.4% |
| 2026 | +42.0% | +403.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALTO and ANTX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ALTO and ANTX?
The ALTO/ANTX correlation stands at 0.40 on a 3-year window (1 year: 0.59, 5 years: 0.33), computed from weekly returns as of 2026-08-27.
Is ANTX a good diversifier for ALTO?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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.
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Related comparisons
Hubs: ALTO correlations · ANTX correlations
