ALXO vs DRIO: Correlation
How closely do ALX Oncology Holdings Inc. (ALXO) and DarioHealth Corp. (DRIO) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALXO and DRIO?
On 3 years of weekly data the ALXO/DRIO correlation comes out at 0.41, moderate. The link has tightened recently: the 1-year correlation (0.59) runs above the 3-year figure (0.41). The 5-year figure is 0.35, and annualized covariance runs at 5123.6 %².
DRIO is one of the assets that tracks ALXO most closely: it ranks #1 out of the 11 assets we track against ALXO. Their recent paths diverged sharply: over the last 12 months ALXO outperformed by 100.4 percentage points (+70.8% for ALXO against -29.6% for DRIO).
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 DRIO: side by side
| ALXO (ALX Oncology Holdings Inc.) | DRIO (DarioHealth Corp.) | |
|---|---|---|
| 1-year return | +70.8% | -29.6% |
| 5-year return | -97.2% | -97.3% |
| Volatility (ann.) | 117.5% | 106.1% |
| Beta vs S&P 500 | 1.42 | 0.92 |
| Max drawdown (3Y) | -97.7% | -91.2% |
| Market cap | $0.3B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALXO | DRIO |
|---|---|---|
| 2022 | -47.6% | -67.0% |
| 2023 | +32.1% | -59.8% |
| 2024 | -88.8% | -54.3% |
| 2025 | -32.3% | -27.6% |
| 2026 | +81.4% | -40.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALXO and DRIO good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ALXO and DRIO?
As of 2026-08-27, the correlation of weekly returns between ALXO and DRIO is 0.41 over 3 years, 0.59 over 1 year and 0.35 over 5 years.
Is DRIO a good diversifier for ALXO?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
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Related comparisons
Hubs: ALXO correlations · DRIO correlations
