CABA vs IMNM: Correlation
How closely do Cabaletta Bio, Inc. (CABA) and Immunome, Inc. (IMNM) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CABA and IMNM?
On 3 years of weekly data the CABA/IMNM correlation comes out at 0.46, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.34 versus 0.46 over 3 years. The 5-year figure is 0.23, and annualized covariance runs at 4372.5 %².
Within CABA's tracked universe of 14 assets, IMNM comes in at #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months IMNM outperformed by 64.9 percentage points (+125.3% for CABA against +190.2% for IMNM). Risk is not evenly split, since CABA carries 1.7 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.
CABA vs IMNM: side by side
| CABA (Cabaletta Bio, Inc.) | IMNM (Immunome, Inc.) | |
|---|---|---|
| 1-year return | +125.3% | +190.2% |
| 5-year return | -66.5% | +102.5% |
| Volatility (ann.) | 125.4% | 75.1% |
| Beta vs S&P 500 | 3.70 | 1.55 |
| Max drawdown (3Y) | -95.9% | -79.7% |
| Market cap | $0.6B | $3.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CABA | IMNM |
|---|---|---|
| 2022 | +144.1% | -82.9% |
| 2023 | +145.4% | +384.2% |
| 2024 | -90.0% | -0.7% |
| 2025 | -3.5% | +102.3% |
| 2026 | +54.3% | +34.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CABA and IMNM good diversifiers for each other?
Reasonably. At 0.46, CABA and IMNM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CABA and IMNM?
The CABA/IMNM correlation stands at 0.46 on a 3-year window (1 year: 0.34, 5 years: 0.23), computed from weekly returns as of 2026-08-27.
Is IMNM a good diversifier for CABA?
Reasonably. At 0.46, CABA and IMNM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.46 mean?
On the −1 to +1 scale, 0.46 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.
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Related comparisons
Hubs: CABA correlations · IMNM correlations
