CARE vs TECX: Correlation
Carter Bankshares, Inc. (CARE) and Tectonic Therapeutic, Inc. (TECX) show a moderate relationship: their 3-year correlation of weekly returns is 0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CARE and TECX?
Across a 3-year window, the weekly returns of CARE and TECX correlate at 0.37, moderate. The past 12 months show a weaker link (-0.11) than the 3-year average (0.37). Stretching to 5 years gives 0.32, with an annualized covariance of 7236.1 %².
By 3-year correlation, TECX places #7 of the 14 assets tracked against CARE. Their recent paths diverged sharply: over the last 12 months CARE outperformed by 27.5 percentage points (+65.7% for CARE against +38.2% for TECX). Risk is not evenly split, since TECX carries 20.5 times the volatility of the other side.
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.
CARE vs TECX: side by side
| CARE (Carter Bankshares, Inc.) | TECX (Tectonic Therapeutic, Inc.) | |
|---|---|---|
| 1-year return | +65.7% | +38.2% |
| 5-year return | +167.6% | -52.9% |
| Volatility (ann.) | 30.7% | 628.0% |
| Beta vs S&P 500 | 0.64 | 0.20 |
| Max drawdown (3Y) | -31.7% | -92.8% |
| Market cap | $0.7B | $0.7B |
| P/E (trailing) | 5.5 | – |
| Dividend yield | 0.32% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CARE | TECX |
|---|---|---|
| 2022 | +7.8% | -81.6% |
| 2023 | -9.8% | +91.5% |
| 2024 | +17.5% | +182.9% |
| 2025 | +11.8% | -54.8% |
| 2026 | +64.1% | +75.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CARE and TECX good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CARE and TECX?
The CARE/TECX correlation stands at 0.37 on a 3-year window (1 year: -0.11, 5 years: 0.32), computed from weekly returns as of 2026-08-27.
Is TECX a good diversifier for CARE?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.37 mean?
A reading of 0.37 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/care-vs-tecx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/care-vs-tecx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CARE correlations · TECX correlations
