ARWR vs CABA: Correlation
Arrowhead Pharmaceuticals, Inc. (ARWR) and Cabaletta Bio, Inc. (CABA) show a strong relationship: their 3-year correlation of weekly returns is 0.63.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARWR and CABA?
On 3 years of weekly data the ARWR/CABA correlation comes out at 0.63, strong. Lately the two have drifted apart, with the 1-year correlation at 0.31 versus 0.63 over 3 years. The 5-year figure is 0.48, and annualized covariance runs at 5232.3 %².
In ARWR's tracked universe of 12 assets, CABA sits right near the top at #1. Correlation aside, the last 12 months split them widely, with ARWR ahead by 181.3 points (+306.6% versus +125.3%). Risk is not evenly split, since CABA carries 1.9 times the volatility of the other side.
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.
ARWR vs CABA: side by side
| ARWR (Arrowhead Pharmaceuticals, Inc.) | CABA (Cabaletta Bio, Inc.) | |
|---|---|---|
| 1-year return | +306.6% | +125.3% |
| 5-year return | +32.5% | -66.5% |
| Volatility (ann.) | 65.8% | 125.4% |
| Beta vs S&P 500 | 2.19 | 3.70 |
| Max drawdown (3Y) | -74.7% | -95.9% |
| Market cap | $12.5B | $0.6B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARWR | CABA |
|---|---|---|
| 2022 | -38.8% | +144.1% |
| 2023 | -24.6% | +145.4% |
| 2024 | -38.6% | -90.0% |
| 2025 | +253.1% | -3.5% |
| 2026 | +33.4% | +54.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARWR and CABA good diversifiers for each other?
Only partially. A correlation of 0.63 means ARWR and CABA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ARWR and CABA?
As of 2026-08-27, the correlation of weekly returns between ARWR and CABA is 0.63 over 3 years, 0.31 over 1 year and 0.48 over 5 years.
Is CABA a good diversifier for ARWR?
Only partially. A correlation of 0.63 means ARWR and CABA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.63 mean?
A reading of 0.63 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/arwr-vs-caba.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/arwr-vs-caba/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ARWR correlations · CABA correlations
