CCCC vs WHWK: Correlation
Measured on weekly returns over the past three years, C4 Therapeutics, Inc. (CCCC) and Whitehawk Therapeutics, Inc. (WHWK) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCCC and WHWK?
Over the past 3 years, CCCC and WHWK moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.51 versus -0.27 over 3 years. Over 5 years the correlation is -0.16, and the annualized covariance of weekly returns is -3432.5 %².
Among the 19 assets we track against CCCC, WHWK sits near the bottom by co-movement, at rank #17. Their recent paths diverged sharply: over the last 12 months WHWK outperformed by 110.2 percentage points (+58.9% for CCCC against +169.1% for WHWK). One caveat on sizing: CCCC is 2.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CCCC vs WHWK: side by side
| CCCC (C4 Therapeutics, Inc.) | WHWK (Whitehawk Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +58.9% | +169.1% |
| 5-year return | -90.1% | -80.9% |
| Volatility (ann.) | 184.7% | 69.1% |
| Beta vs S&P 500 | 3.22 | 1.03 |
| Max drawdown (3Y) | -90.0% | -80.6% |
| Market cap | $0.5B | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CCCC | WHWK |
|---|---|---|
| 2022 | -81.7% | -46.9% |
| 2023 | -4.2% | -84.3% |
| 2024 | -36.3% | +56.2% |
| 2025 | -46.9% | -23.3% |
| 2026 | +114.7% | +101.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCCC and WHWK good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between CCCC and WHWK?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with 0.51 over the last year and -0.16 over 5 years.
Is WHWK a good diversifier for CCCC?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
A reading of -0.27 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CCCC correlations · WHWK correlations
