CADL vs XXII: Correlation
Measured on weekly returns over the past three years, Candel Therapeutics, Inc. (CADL) and 22nd Century Group, Inc (XXII) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CADL and XXII?
Over the past 3 years, CADL and XXII moved with a correlation of 0.40, which is moderate. The past 12 months show a weaker link (-0.11) than the 3-year average (0.40). Over 5 years the correlation is 0.31, and the annualized covariance of weekly returns is 9784.3 %².
Within CADL's tracked universe of 21 assets, XXII comes in at #8 by 3-year correlation. The last year tells two different stories: CADL led by 232.1 percentage points, +132.7% for CADL against -99.4% for XXII. Note the risk asymmetry: CADL runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 XXII: side by side
| CADL (Candel Therapeutics, Inc.) | XXII (22nd Century Group, Inc) | |
|---|---|---|
| 1-year return | +132.7% | -99.4% |
| 5-year return | +73.2% | -100.0% |
| Volatility (ann.) | 207.2% | 119.0% |
| Beta vs S&P 500 | 0.60 | 2.06 |
| Max drawdown (3Y) | -72.9% | -100.0% |
| Market cap | $1.1B | – |
| P/E (trailing) | – | 0.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CADL | XXII |
|---|---|---|
| 2022 | -77.1% | -70.2% |
| 2023 | -17.9% | -98.7% |
| 2024 | +490.5% | -98.7% |
| 2025 | -34.9% | -99.4% |
| 2026 | +143.4% | -98.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CADL and XXII good diversifiers for each other?
Reasonably. At 0.40, CADL and XXII keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CADL and XXII?
The CADL/XXII correlation stands at 0.40 on a 3-year window (1 year: -0.11, 5 years: 0.31), computed from weekly returns as of 2026-08-27.
Is XXII a good diversifier for CADL?
Reasonably. At 0.40, CADL and XXII keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
A reading of 0.40 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-xxii.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cadl-vs-xxii/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CADL correlations · XXII correlations
