ALZN vs CALY: Correlation
How closely do Alzamend Neuro, Inc. (ALZN) and Callaway Golf Company (CALY) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALZN and CALY?
On 3 years of weekly data the ALZN/CALY correlation comes out at 0.38, moderate. The relationship has been stable: the 1-year correlation (0.39) sits close to the 3-year figure. The 5-year figure is 0.34, and annualized covariance runs at 1969.5 %².
CALY is one of the assets that tracks ALZN most closely: it ranks #1 out of the 10 assets we track against ALZN. Their recent paths diverged sharply: over the last 12 months CALY outperformed by 89.9 percentage points (-32.3% for ALZN against +57.6% for CALY). Note the risk asymmetry: ALZN runs 1.7 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.
ALZN vs CALY: side by side
| ALZN (Alzamend Neuro, Inc.) | CALY (Callaway Golf Company) | |
|---|---|---|
| 1-year return | -32.3% | +57.6% |
| 5-year return | -100.0% | -45.7% |
| Volatility (ann.) | 92.3% | 55.5% |
| Beta vs S&P 500 | 0.81 | 1.11 |
| Max drawdown (3Y) | -99.8% | -68.1% |
| Market cap | – | $2.8B |
| P/E (trailing) | – | 36.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALZN | CALY |
|---|---|---|
| 2022 | -70.3% | -28.0% |
| 2023 | -89.5% | -27.4% |
| 2024 | -87.0% | -45.2% |
| 2025 | -82.6% | +48.5% |
| 2026 | -8.5% | +32.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALZN and CALY good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ALZN and CALY?
The ALZN/CALY correlation stands at 0.38 on a 3-year window (1 year: 0.39, 5 years: 0.34), computed from weekly returns as of 2026-08-27.
Is CALY a good diversifier for ALZN?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
A reading of 0.38 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/alzn-vs-caly.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/alzn-vs-caly/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALZN correlations · CALY correlations
