CABA vs NGNE: Correlation
Cabaletta Bio, Inc. (CABA) and Neurogene Inc. (NGNE) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CABA and NGNE?
Over the past 3 years, CABA and NGNE moved with a correlation of 0.47, which is moderate. The link has loosened recently: the 1-year correlation (0.35) runs below the 3-year figure (0.47). Over 5 years the correlation is 0.34, and the annualized covariance of weekly returns is 5979.4 %².
Among the 14 assets we track against CABA, NGNE ranks #7 by 3-year correlation. The last year tells two different stories: CABA led by 33.1 percentage points, +125.3% for CABA against +92.2% for NGNE.
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 NGNE: side by side
| CABA (Cabaletta Bio, Inc.) | NGNE (Neurogene Inc.) | |
|---|---|---|
| 1-year return | +125.3% | +92.2% |
| 5-year return | -66.5% | -76.7% |
| Volatility (ann.) | 125.4% | 102.1% |
| Beta vs S&P 500 | 3.70 | 2.68 |
| Max drawdown (3Y) | -95.9% | -89.7% |
| Market cap | $0.6B | $0.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CABA | NGNE |
|---|---|---|
| 2022 | +144.1% | -89.4% |
| 2023 | +145.4% | +90.4% |
| 2024 | -90.0% | +18.0% |
| 2025 | -3.5% | -9.9% |
| 2026 | +54.3% | +83.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CABA and NGNE good diversifiers for each other?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CABA and NGNE?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.35 over the last year and 0.34 over 5 years.
Is NGNE a good diversifier for CABA?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.47 mean?
A reading of 0.47 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/caba-vs-ngne.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/caba-vs-ngne/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CABA correlations · NGNE correlations
