ATRA vs TENX: Correlation
Measured on weekly returns over the past three years, Atara Biotherapeutics, Inc. (ATRA) and Tenax Therapeutics, Inc. (TENX) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATRA and TENX?
On 3 years of weekly data the ATRA/TENX correlation comes out at 0.38, moderate. The link has loosened recently: the 1-year correlation (-0.07) runs below the 3-year figure (0.38). The 5-year figure is 0.28, and annualized covariance runs at 7399.6 %².
Within ATRA's tracked universe of 13 assets, TENX comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ATRA ahead by 37.9 points (-25.1% versus -63.0%).
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 TENX: side by side
| ATRA (Atara Biotherapeutics, Inc.) | TENX (Tenax Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -25.1% | -63.0% |
| 5-year return | -97.5% | -99.9% |
| Volatility (ann.) | 153.2% | 127.0% |
| Beta vs S&P 500 | 1.17 | 0.95 |
| Max drawdown (3Y) | -90.7% | -97.2% |
| Market cap | $0.1B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ATRA | TENX |
|---|---|---|
| 2022 | -79.2% | -89.3% |
| 2023 | -84.4% | -87.6% |
| 2024 | +3.8% | -71.9% |
| 2025 | +35.9% | +96.9% |
| 2026 | -48.9% | -82.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATRA and TENX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ATRA and TENX?
The ATRA/TENX correlation stands at 0.38 on a 3-year window (1 year: -0.07, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is TENX a good diversifier for ATRA?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/atra-vs-tenx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/atra-vs-tenx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ATRA correlations · TENX correlations
