CBIO vs EL: Correlation
How closely do Crescent Biopharma, Inc. (CBIO) and Estée Lauder Companies (The) (EL) trade together? Their weekly returns over three years give a correlation of -0.17, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBIO and EL?
Over the past 3 years, CBIO and EL moved with a correlation of -0.17, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.09 lands near the 3-year figure. Over 5 years the correlation is -0.01, and the annualized covariance of weekly returns is -964.3 %².
EL is close to the least connected end of CBIO's tracked universe, ranking #12 of 16. Over the last 12 months CBIO came out ahead by 8.2 percentage points (+24.6% against +16.4%). Note the risk asymmetry: CBIO runs 2.5 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.
CBIO vs EL: side by side
| CBIO (Crescent Biopharma, Inc.) | EL (Estée Lauder Companies (The)) | |
|---|---|---|
| 1-year return | +24.6% | +16.4% |
| 5-year return | -107.8% | -66.7% |
| Volatility (ann.) | 117.9% | 47.0% |
| Beta vs S&P 500 | 1.30 | 1.28 |
| Max drawdown (3Y) | -97.4% | -68.4% |
| Market cap | $0.7B | $38.4B |
| P/E (trailing) | – | 208.3 |
| Dividend yield | 0.00% | 1.33% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | CBIO | EL |
|---|---|---|
| 2022 | -275.3% | -32.3% |
| 2023 | -15.0% | -40.1% |
| 2024 | -89.4% | -47.6% |
| 2025 | -52.6% | +42.1% |
| 2026 | +49.7% | +2.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBIO and EL good diversifiers for each other?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CBIO and EL?
Using weekly returns as of 2026-08-27: -0.17 over 3 years, with -0.09 over the last year and -0.01 over 5 years.
Is EL a good diversifier for CBIO?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.17 mean?
A reading of -0.17 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/cbio-vs-el.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cbio-vs-el/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CBIO correlations · EL correlations
