CADL vs PVH: Correlation
Candel Therapeutics, Inc. (CADL) and PVH Corp. (PVH) show a negative relationship: their 3-year correlation of weekly returns is -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CADL and PVH?
Over the past 3 years, CADL and PVH moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.18 over 1 year against -0.27 over 3. Over 5 years the correlation is -0.15, and the annualized covariance of weekly returns is -2466.0 %².
PVH is close to the least connected end of CADL's tracked universe, ranking #19 of 21. The last year tells two different stories: CADL led by 139.3 percentage points, +132.7% for CADL against -6.6% for PVH. One caveat on sizing: CADL is 4.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 PVH: side by side
| CADL (Candel Therapeutics, Inc.) | PVH (PVH Corp.) | |
|---|---|---|
| 1-year return | +132.7% | -6.6% |
| 5-year return | +73.2% | -28.0% |
| Volatility (ann.) | 207.2% | 43.7% |
| Beta vs S&P 500 | 0.60 | 1.11 |
| Max drawdown (3Y) | -72.9% | -56.9% |
| Market cap | $1.1B | – |
| P/E (trailing) | – | 23.8 |
| Dividend yield | 0.00% | 0.19% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CADL | PVH |
|---|---|---|
| 2022 | -77.1% | -33.7% |
| 2023 | -17.9% | +73.3% |
| 2024 | +490.5% | -13.3% |
| 2025 | -34.9% | -36.5% |
| 2026 | +143.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CADL and PVH good diversifiers for each other?
Yes. With a correlation of -0.27, CADL and PVH have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CADL and PVH?
As of 2026-08-27, the correlation of weekly returns between CADL and PVH is -0.27 over 3 years, -0.18 over 1 year and -0.15 over 5 years.
Is PVH a good diversifier for CADL?
Yes. With a correlation of -0.27, CADL and PVH have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 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/cadl-vs-pvh.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cadl-vs-pvh/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CADL correlations · PVH correlations
