ANNA vs BAX: Correlation
How closely do AleAnna, Inc. (ANNA) and Baxter International (BAX) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANNA and BAX?
Over the past 3 years, ANNA and BAX moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.39) runs below the 3-year figure (-0.22). Over 5 years the correlation is -0.19, and the annualized covariance of weekly returns is -748.4 %².
By 3-year correlation, BAX places #65 of the 103 assets tracked against ANNA. The last year tells two different stories: BAX led by 40.9 percentage points, -34.3% for ANNA against +6.6% for BAX. One caveat on sizing: ANNA is 2.3 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ANNA vs BAX: side by side
| ANNA (AleAnna, Inc.) | BAX (Baxter International) | |
|---|---|---|
| 1-year return | -34.3% | +6.6% |
| 5-year return | -71.7% | -62.2% |
| Volatility (ann.) | 88.7% | 38.4% |
| Beta vs S&P 500 | -0.92 | 0.89 |
| Max drawdown (3Y) | -86.3% | -62.4% |
| Market cap | $0.1B | $13.4B |
| P/E (trailing) | 14.7 | – |
| Dividend yield | 0.00% | 0.75% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | ANNA | BAX |
|---|---|---|
| 2022 | – | -39.6% |
| 2023 | +7.3% | -21.9% |
| 2024 | -37.6% | -22.4% |
| 2025 | -57.6% | -33.3% |
| 2026 | -3.0% | +35.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANNA and BAX good diversifiers for each other?
Yes. With a correlation of -0.22, ANNA and BAX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ANNA and BAX?
As of 2026-08-27, the correlation of weekly returns between ANNA and BAX is -0.22 over 3 years, -0.39 over 1 year and -0.19 over 5 years.
Is BAX a good diversifier for ANNA?
Yes. With a correlation of -0.22, ANNA and BAX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 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.
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Related comparisons
Hubs: ANNA correlations · BAX correlations
