ANRO vs CLNN: Correlation
How closely do Alto Neuroscience, Inc. (ANRO) and Clene Inc. (CLNN) trade together? Their weekly returns over three years give a correlation of 0.32, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANRO and CLNN?
Over the past 3 years, ANRO and CLNN moved with a correlation of 0.32, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.54 versus 0.32 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 3954.0 %².
Among the 16 assets we track against ANRO, CLNN ranks #10 by 3-year correlation. The last year tells two different stories: ANRO led by 798.0 percentage points, +781.1% for ANRO against -16.9% for CLNN.
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 CLNN: side by side
| ANRO (Alto Neuroscience, Inc.) | CLNN (Clene Inc.) | |
|---|---|---|
| 1-year return | +781.1% | -16.9% |
| 5-year return | n/a | -97.1% |
| Volatility (ann.) | 113.2% | 111.8% |
| Beta vs S&P 500 | 1.90 | 1.72 |
| Max drawdown (3Y) | -91.7% | -84.4% |
| Market cap | $1.4B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ANRO | CLNN |
|---|---|---|
| 2022 | – | -75.6% |
| 2023 | – | -70.0% |
| 2024 | – | -11.5% |
| 2025 | +320.8% | +10.5% |
| 2026 | +103.9% | -23.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANRO and CLNN good diversifiers for each other?
Reasonably. At 0.32, ANRO and CLNN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ANRO and CLNN?
Using weekly returns as of 2026-08-27: 0.32 over 3 years, with 0.54 over the last year and n/a over 5 years.
Is CLNN a good diversifier for ANRO?
Reasonably. At 0.32, ANRO and CLNN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.32 mean?
On the −1 to +1 scale, 0.32 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: ANRO correlations · CLNN correlations
