CADL vs DXYZ: Correlation
Measured on weekly returns over the past three years, Candel Therapeutics, Inc. (CADL) and Destiny Tech100 Inc. (DXYZ) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CADL and DXYZ?
Over the past 3 years, CADL and DXYZ moved with a correlation of 0.41, which is moderate. Recent behaviour matches the longer record: 0.34 over 1 year against 0.41 over 3. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 18723.2 %².
Within CADL's tracked universe of 21 assets, DXYZ comes in at #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CADL outperformed by 107.8 percentage points (+132.7% for CADL against +24.9% for DXYZ).
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.
CADL vs DXYZ: side by side
| CADL (Candel Therapeutics, Inc.) | DXYZ (Destiny Tech100 Inc.) | |
|---|---|---|
| 1-year return | +132.7% | +24.9% |
| 5-year return | +73.2% | n/a |
| Volatility (ann.) | 207.2% | 201.3% |
| Beta vs S&P 500 | 0.60 | 3.94 |
| Max drawdown (3Y) | -72.9% | -90.3% |
| Market cap | $1.1B | $1.1B |
| P/E (trailing) | – | 9.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CADL | DXYZ |
|---|---|---|
| 2022 | -77.1% | – |
| 2023 | -17.9% | – |
| 2024 | +490.5% | – |
| 2025 | -34.9% | -48.0% |
| 2026 | +143.4% | +15.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CADL and DXYZ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CADL and DXYZ?
As of 2026-08-27, the correlation of weekly returns between CADL and DXYZ is 0.41 over 3 years, 0.34 over 1 year and n/a over 5 years.
Is DXYZ a good diversifier for CADL?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.41 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.
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Related comparisons
Hubs: CADL correlations · DXYZ correlations
