BIIB vs CHR: Correlation
Measured on weekly returns over the past three years, Biogen (BIIB) and Cheer Holding, Inc. - Class A (CHR) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BIIB and CHR?
Over the past 3 years, BIIB and CHR moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.34 versus -0.19 over 3 years. Over 5 years the correlation is -0.08, and the annualized covariance of weekly returns is -502.9 %².
Within BIIB's tracked universe of 32 assets, CHR comes in at #25 by 3-year correlation. The last year tells two different stories: BIIB led by 161.3 percentage points, +62.4% for BIIB against -98.9% for CHR. Risk is not evenly split, since CHR carries 3.0 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.
BIIB vs CHR: side by side
| BIIB (Biogen) | CHR (Cheer Holding, Inc. - Class A) | |
|---|---|---|
| 1-year return | +62.4% | -98.9% |
| 5-year return | -35.7% | -100.0% |
| Volatility (ann.) | 30.1% | 89.2% |
| Beta vs S&P 500 | 0.53 | 0.17 |
| Max drawdown (3Y) | -57.7% | -99.8% |
| Market cap | $32.7B | – |
| P/E (trailing) | 39.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | BIIB | CHR |
|---|---|---|
| 2022 | +15.4% | +23.7% |
| 2023 | -6.6% | -78.5% |
| 2024 | -40.9% | -20.7% |
| 2025 | +15.1% | -99.0% |
| 2026 | +25.9% | -52.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BIIB and CHR good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between BIIB and CHR?
The BIIB/CHR correlation stands at -0.19 on a 3-year window (1 year: -0.34, 5 years: -0.08), computed from weekly returns as of 2026-08-27.
Is CHR a good diversifier for BIIB?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 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/biib-vs-chr.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/biib-vs-chr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BIIB correlations · CHR correlations
