CBIO vs HII: Correlation
How closely do Crescent Biopharma, Inc. (CBIO) and Huntington Ingalls Industries (HII) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBIO and HII?
On 3 years of weekly data the CBIO/HII correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.04) runs above the 3-year figure (-0.21). The 5-year figure is -0.12, and annualized covariance runs at -881.3 %².
HII is close to the least connected end of CBIO's tracked universe, ranking #13 of 16. Correlation aside, the last 12 months split them widely, with CBIO ahead by 15.2 points (+24.6% versus +9.4%). Note the risk asymmetry: CBIO runs 3.3 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 HII: side by side
| CBIO (Crescent Biopharma, Inc.) | HII (Huntington Ingalls Industries) | |
|---|---|---|
| 1-year return | +24.6% | +9.4% |
| 5-year return | -107.8% | +59.2% |
| Volatility (ann.) | 117.9% | 35.3% |
| Beta vs S&P 500 | 1.30 | 0.84 |
| Max drawdown (3Y) | -97.4% | -45.2% |
| Market cap | $0.7B | $11.7B |
| P/E (trailing) | – | 17.7 |
| Dividend yield | 0.00% | 1.85% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | CBIO | HII |
|---|---|---|
| 2022 | -275.3% | +26.3% |
| 2023 | -15.0% | +15.2% |
| 2024 | -89.4% | -25.7% |
| 2025 | -52.6% | +84.2% |
| 2026 | +49.7% | -11.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBIO and HII good diversifiers for each other?
Yes. With a correlation of -0.21, CBIO and HII have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CBIO and HII?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with 0.04 over the last year and -0.12 over 5 years.
Is HII a good diversifier for CBIO?
Yes. With a correlation of -0.21, CBIO and HII have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: CBIO correlations · HII correlations
