CD vs HALO: Correlation
How closely do Chaince Digital Holdings Inc. - American (CD) and Halozyme Therapeutics, Inc. (HALO) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CD and HALO?
Over the past 3 years, CD and HALO moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.14 lands near the 3-year figure. Over 5 years the correlation is -0.13, and the annualized covariance of weekly returns is -1582.0 %².
Among the 15 assets we track against CD, HALO sits near the bottom by co-movement, at rank #13. The last year tells two different stories: HALO led by 85.9 percentage points, -39.8% for CD against +46.1% for HALO. Risk is not evenly split, since CD carries 4.6 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.
CD vs HALO: side by side
| CD (Chaince Digital Holdings Inc. - American) | HALO (Halozyme Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -39.8% | +46.1% |
| 5-year return | +1.2% | +154.8% |
| Volatility (ann.) | 189.9% | 41.5% |
| Beta vs S&P 500 | 1.02 | 0.54 |
| Max drawdown (3Y) | -92.6% | -33.9% |
| Market cap | $0.4B | $12.1B |
| P/E (trailing) | – | 31.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CD | HALO |
|---|---|---|
| 2022 | -64.8% | +41.5% |
| 2023 | +109.5% | -35.0% |
| 2024 | +162.7% | +29.4% |
| 2025 | -27.2% | +40.8% |
| 2026 | -31.2% | +58.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CD and HALO good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between CD and HALO?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.14 over the last year and -0.13 over 5 years.
Is HALO a good diversifier for CD?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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: CD correlations · HALO correlations
