ANRO vs ARMP: Correlation
How closely do Alto Neuroscience, Inc. (ANRO) and Armata Pharmaceuticals, Inc. (ARMP) trade together? Their weekly returns over three years give a correlation of 0.35, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANRO and ARMP?
Over the past 3 years, ANRO and ARMP moved with a correlation of 0.35, which is moderate. The relationship has been stable: the 1-year correlation (0.40) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 3740.1 %².
By 3-year correlation, ARMP places #8 of the 16 assets tracked against ANRO. Their recent paths diverged sharply: over the last 12 months ANRO outperformed by 658.6 percentage points (+781.1% for ANRO against +122.5% for ARMP).
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.
ANRO vs ARMP: side by side
| ANRO (Alto Neuroscience, Inc.) | ARMP (Armata Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | +781.1% | +122.5% |
| 5-year return | n/a | +48.0% |
| Volatility (ann.) | 113.2% | 95.4% |
| Beta vs S&P 500 | 1.90 | 0.63 |
| Max drawdown (3Y) | -91.7% | -78.5% |
| Market cap | $1.4B | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ANRO | ARMP |
|---|---|---|
| 2022 | – | -77.4% |
| 2023 | – | +161.3% |
| 2024 | – | -42.9% |
| 2025 | +320.8% | +239.5% |
| 2026 | +103.9% | -13.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANRO and ARMP good diversifiers for each other?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ANRO and ARMP?
As of 2026-08-27, the correlation of weekly returns between ANRO and ARMP is 0.35 over 3 years, 0.40 over 1 year and n/a over 5 years.
Is ARMP a good diversifier for ANRO?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.35 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: ANRO correlations · ARMP correlations
