ALXO vs ARVN: Correlation
Measured on weekly returns over the past three years, ALX Oncology Holdings Inc. (ALXO) and Arvinas, Inc. (ARVN) carry a correlation of 0.36, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALXO and ARVN?
Over the past 3 years, ALXO and ARVN moved with a correlation of 0.36, which is moderate. Recent behaviour matches the longer record: 0.26 over 1 year against 0.36 over 3. Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 3086.4 %².
By 3-year correlation, ARVN places #4 of the 11 assets tracked against ALXO. Correlation aside, the last 12 months split them widely, with ALXO ahead by 56.4 points (+70.8% versus +14.4%). Note the risk asymmetry: ALXO runs 1.6 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.
ALXO vs ARVN: side by side
| ALXO (ALX Oncology Holdings Inc.) | ARVN (Arvinas, Inc.) | |
|---|---|---|
| 1-year return | +70.8% | +14.4% |
| 5-year return | -97.2% | -89.2% |
| Volatility (ann.) | 117.5% | 73.6% |
| Beta vs S&P 500 | 1.42 | 1.55 |
| Max drawdown (3Y) | -97.7% | -88.4% |
| Market cap | $0.3B | $0.6B |
| P/E (trailing) | – | 35.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALXO | ARVN |
|---|---|---|
| 2022 | -47.6% | -58.4% |
| 2023 | +32.1% | +20.3% |
| 2024 | -88.8% | -53.4% |
| 2025 | -32.3% | -38.1% |
| 2026 | +81.4% | -22.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALXO and ARVN good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ALXO and ARVN?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.26 over the last year and 0.36 over 5 years.
Is ARVN a good diversifier for ALXO?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.36 mean?
A reading of 0.36 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/alxo-vs-arvn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/alxo-vs-arvn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALXO correlations · ARVN correlations
