ATRA vs HGLB: Correlation
How closely do Atara Biotherapeutics, Inc. (ATRA) and Highland Global Allocation Fund (HGLB) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATRA and HGLB?
Over the past 3 years, ATRA and HGLB moved with a correlation of 0.39, which is moderate. The past 12 months show a weaker link (0.09) than the 3-year average (0.39). Over 5 years the correlation is 0.32, and the annualized covariance of weekly returns is 1546.5 %².
Within ATRA's tracked universe of 13 assets, HGLB comes in at #4 by 3-year correlation. The last year tells two different stories: HGLB led by 26.1 percentage points, -25.1% for ATRA against +1.0% for HGLB. Risk is not evenly split, since ATRA carries 5.9 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.
ATRA vs HGLB: side by side
| ATRA (Atara Biotherapeutics, Inc.) | HGLB (Highland Global Allocation Fund) | |
|---|---|---|
| 1-year return | -25.1% | +1.0% |
| 5-year return | -97.5% | +36.3% |
| Volatility (ann.) | 153.2% | 26.1% |
| Beta vs S&P 500 | 1.17 | 0.91 |
| Max drawdown (3Y) | -90.7% | -24.1% |
| Market cap | $0.1B | $0.2B |
| P/E (trailing) | – | 18.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ATRA | HGLB |
|---|---|---|
| 2022 | -79.2% | +14.5% |
| 2023 | -84.4% | -6.1% |
| 2024 | +3.8% | -1.5% |
| 2025 | +35.9% | +51.7% |
| 2026 | -48.9% | -10.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATRA and HGLB good diversifiers for each other?
Reasonably. At 0.39, ATRA and HGLB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ATRA and HGLB?
The ATRA/HGLB correlation stands at 0.39 on a 3-year window (1 year: 0.09, 5 years: 0.32), computed from weekly returns as of 2026-08-27.
Is HGLB a good diversifier for ATRA?
Reasonably. At 0.39, ATRA and HGLB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 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
$ curl https://www.pairbook.io/api/v1/pairs/atra-vs-hglb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/atra-vs-hglb/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ATRA correlations · HGLB correlations
