CDNA vs NTRA: Correlation
How closely do CareDx, Inc. (CDNA) and Natera, Inc. (NTRA) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDNA and NTRA?
Over the past 3 years, CDNA and NTRA moved with a correlation of 0.54, which is moderate. The link has loosened recently: the 1-year correlation (0.40) runs below the 3-year figure (0.54). Over 5 years the correlation is 0.42, and the annualized covariance of weekly returns is 2051.4 %².
In CDNA's tracked universe of 10 assets, NTRA sits right near the top at #1. Correlation aside, the last 12 months split them widely, with CDNA ahead by 186.3 points (+294.0% versus +107.7%). Risk is not evenly split, since CDNA carries 1.8 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.
CDNA vs NTRA: side by side
| CDNA (CareDx, Inc.) | NTRA (Natera, Inc.) | |
|---|---|---|
| 1-year return | +294.0% | +107.7% |
| 5-year return | -35.0% | +182.7% |
| Volatility (ann.) | 83.5% | 45.2% |
| Beta vs S&P 500 | 1.46 | 1.27 |
| Max drawdown (3Y) | -66.0% | -39.9% |
| Market cap | $2.7B | $48.8B |
| P/E (trailing) | 24.5 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CDNA | NTRA |
|---|---|---|
| 2022 | -74.9% | -57.0% |
| 2023 | +5.2% | +55.9% |
| 2024 | +78.4% | +152.7% |
| 2025 | -12.0% | +44.7% |
| 2026 | +177.9% | +47.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CDNA and NTRA good diversifiers for each other?
Only partially. A correlation of 0.54 means CDNA and NTRA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CDNA and NTRA?
As of 2026-08-27, the correlation of weekly returns between CDNA and NTRA is 0.54 over 3 years, 0.40 over 1 year and 0.42 over 5 years.
Is NTRA a good diversifier for CDNA?
Only partially. A correlation of 0.54 means CDNA and NTRA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.54 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cdna-vs-ntra.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cdna-vs-ntra/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CDNA correlations · NTRA correlations
