APLD vs CNTB: Correlation
How closely do Applied Digital Corporation (APLD) and Connect Biopharma Holdings Limited (CNTB) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APLD and CNTB?
Across a 3-year window, the weekly returns of APLD and CNTB correlate at -0.23, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.29 over 1 year against -0.23 over 3. Stretching to 5 years gives -0.11, with an annualized covariance of -2678.6 %².
Among the 15 assets we track against APLD, CNTB sits near the bottom by co-movement, at rank #13. Their recent paths diverged sharply: over the last 12 months APLD outperformed by 36.2 percentage points (+64.3% for APLD against +28.1% for CNTB).
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.
APLD vs CNTB: side by side
| APLD (Applied Digital Corporation) | CNTB (Connect Biopharma Holdings Limited) | |
|---|---|---|
| 1-year return | +64.3% | +28.1% |
| 5-year return | +465.8% | -89.0% |
| Volatility (ann.) | 117.7% | 99.0% |
| Beta vs S&P 500 | 2.73 | -0.06 |
| Max drawdown (3Y) | -71.9% | -75.0% |
| Market cap | $7.8B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | APLD | CNTB |
|---|---|---|
| 2022 | – | -83.1% |
| 2023 | +266.3% | +35.9% |
| 2024 | +13.4% | +16.9% |
| 2025 | +220.9% | +104.3% |
| 2026 | +11.9% | -19.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APLD and CNTB good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between APLD and CNTB?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.29 over the last year and -0.11 over 5 years.
Is CNTB a good diversifier for APLD?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 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.
Use this data
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Related comparisons
Hubs: APLD correlations · CNTB correlations
