ALXO vs CNTN: Correlation
Measured on weekly returns over the past three years, ALX Oncology Holdings Inc. (ALXO) and Canton Strategic Holdings, Inc. (CNTN) carry a correlation of 0.33, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALXO and CNTN?
Over the past 3 years, ALXO and CNTN moved with a correlation of 0.33, which is moderate. The past 12 months show a weaker link (-0.05) than the 3-year average (0.33). Over 5 years the correlation is 0.26, and the annualized covariance of weekly returns is 7156.4 %².
Within ALXO's tracked universe of 11 assets, CNTN comes in at #6 by 3-year correlation. The last year tells two different stories: ALXO led by 123.4 percentage points, +70.8% for ALXO against -52.6% for CNTN. Risk is not evenly split, since CNTN carries 1.6 times the volatility of the other side.
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 CNTN: side by side
| ALXO (ALX Oncology Holdings Inc.) | CNTN (Canton Strategic Holdings, Inc.) | |
|---|---|---|
| 1-year return | +70.8% | -52.6% |
| 5-year return | -97.2% | -99.8% |
| Volatility (ann.) | 117.5% | 182.3% |
| Beta vs S&P 500 | 1.42 | 0.52 |
| Max drawdown (3Y) | -97.7% | -99.0% |
| Market cap | $0.3B | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALXO | CNTN |
|---|---|---|
| 2022 | -47.6% | – |
| 2023 | +32.1% | -94.8% |
| 2024 | -88.8% | -73.4% |
| 2025 | -32.3% | +49.3% |
| 2026 | +81.4% | -22.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALXO and CNTN good diversifiers for each other?
Reasonably. At 0.33, ALXO and CNTN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ALXO and CNTN?
Using weekly returns as of 2026-08-27: 0.33 over 3 years, with -0.05 over the last year and 0.26 over 5 years.
Is CNTN a good diversifier for ALXO?
Reasonably. At 0.33, ALXO and CNTN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.33 mean?
On the −1 to +1 scale, 0.33 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: ALXO correlations · CNTN correlations
