CADL vs VIVO: Correlation
Candel Therapeutics, Inc. (CADL) and VivoPower PLC - Class A (VIVO) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CADL and VIVO?
Over the past 3 years, CADL and VIVO moved with a correlation of 0.62, which is strong. The past 12 months show a weaker link (0.13) than the 3-year average (0.62). Over 5 years the correlation is 0.56, and the annualized covariance of weekly returns is 32916.8 %².
VIVO is one of the assets that tracks CADL most closely: it ranks #2 out of the 21 assets we track against CADL. Their recent paths diverged sharply: over the last 12 months CADL outperformed by 156.5 percentage points (+132.7% for CADL against -23.8% for VIVO).
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 VIVO: side by side
| CADL (Candel Therapeutics, Inc.) | VIVO (VivoPower PLC - Class A) | |
|---|---|---|
| 1-year return | +132.7% | -23.8% |
| 5-year return | +73.2% | -92.6% |
| Volatility (ann.) | 207.2% | 256.4% |
| Beta vs S&P 500 | 0.60 | 0.31 |
| Max drawdown (3Y) | -72.9% | -89.9% |
| Market cap | $1.1B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CADL | VIVO |
|---|---|---|
| 2022 | -77.1% | -91.9% |
| 2023 | -17.9% | -21.5% |
| 2024 | +490.5% | -31.1% |
| 2025 | -34.9% | +70.3% |
| 2026 | +143.4% | +89.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CADL and VIVO good diversifiers for each other?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CADL and VIVO?
As of 2026-08-27, the correlation of weekly returns between CADL and VIVO is 0.62 over 3 years, 0.13 over 1 year and 0.56 over 5 years.
Is VIVO a good diversifier for CADL?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.62 mean?
A reading of 0.62 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/cadl-vs-vivo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cadl-vs-vivo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CADL correlations · VIVO correlations
