ANNX vs LENZ: Correlation
Measured on weekly returns over the past three years, Annexon, Inc. (ANNX) and LENZ Therapeutics, Inc. (LENZ) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANNX and LENZ?
Across a 3-year window, the weekly returns of ANNX and LENZ correlate at 0.41, moderate. The relationship has been stable: the 1-year correlation (0.45) sits close to the 3-year figure. Stretching to 5 years gives 0.31, with an annualized covariance of 2971.8 %².
Within ANNX's tracked universe of 13 assets, LENZ comes in at #6 by 3-year correlation. The last year tells two different stories: ANNX led by 235.9 percentage points, +148.8% for ANNX against -87.1% for LENZ.
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.
ANNX vs LENZ: side by side
| ANNX (Annexon, Inc.) | LENZ (LENZ Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +148.8% | -87.1% |
| 5-year return | -68.9% | -92.9% |
| Volatility (ann.) | 92.8% | 78.6% |
| Beta vs S&P 500 | 1.72 | 1.26 |
| Max drawdown (3Y) | -82.3% | -90.6% |
| Market cap | $1.0B | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ANNX | LENZ |
|---|---|---|
| 2022 | -55.0% | -73.3% |
| 2023 | -12.2% | -21.1% |
| 2024 | +13.0% | +230.7% |
| 2025 | -2.1% | -44.6% |
| 2026 | +4.6% | -69.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANNX and LENZ good diversifiers for each other?
Reasonably. At 0.41, ANNX and LENZ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ANNX and LENZ?
Using weekly returns as of 2026-08-27: 0.41 over 3 years, with 0.45 over the last year and 0.31 over 5 years.
Is LENZ a good diversifier for ANNX?
Reasonably. At 0.41, ANNX and LENZ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 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: ANNX correlations · LENZ correlations
