ALXO vs CTNM: Correlation
Measured on weekly returns over the past three years, ALX Oncology Holdings Inc. (ALXO) and Contineum Therapeutics, Inc. (CTNM) carry a correlation of 0.37, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALXO and CTNM?
Over the past 3 years, ALXO and CTNM moved with a correlation of 0.37, which is moderate. The link has loosened recently: the 1-year correlation (0.10) runs below the 3-year figure (0.37). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 2977.1 %².
CTNM is one of the assets that tracks ALXO most closely: it ranks #2 out of the 11 assets we track against ALXO. Neither side won the trailing year by much: +70.8% against +72.3%. 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 CTNM: side by side
| ALXO (ALX Oncology Holdings Inc.) | CTNM (Contineum Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +70.8% | +72.3% |
| 5-year return | -97.2% | n/a |
| Volatility (ann.) | 117.5% | 72.4% |
| Beta vs S&P 500 | 1.42 | 0.55 |
| Max drawdown (3Y) | -97.7% | -84.4% |
| Market cap | $0.3B | $0.6B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALXO | CTNM |
|---|---|---|
| 2022 | -47.6% | – |
| 2023 | +32.1% | – |
| 2024 | -88.8% | – |
| 2025 | -32.3% | -22.0% |
| 2026 | +81.4% | +50.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALXO and CTNM good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ALXO and CTNM?
As of 2026-08-27, the correlation of weekly returns between ALXO and CTNM is 0.37 over 3 years, 0.10 over 1 year and n/a over 5 years.
Is CTNM a good diversifier for ALXO?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.37 mean?
A reading of 0.37 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: ALXO correlations · CTNM correlations
