CGEN vs GRN: Correlation
Compugen Ltd. (CGEN) and iPath Series B Carbon Exchange-Traded Notes (GRN) show a moderate relationship: their 3-year correlation of weekly returns is 0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CGEN and GRN?
On 3 years of weekly data the CGEN/GRN correlation comes out at 0.33, moderate. Recent behaviour matches the longer record: 0.33 over 1 year against 0.33 over 3. The 5-year figure is 0.15, and annualized covariance runs at 922.0 %².
Among the 18 assets we track against CGEN, GRN ranks #12 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CGEN ahead by 73.1 points (+87.8% versus +14.7%). Risk is not evenly split, since CGEN carries 3.2 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.
CGEN vs GRN: side by side
| CGEN (Compugen Ltd.) | GRN (iPath Series B Carbon Exchange-Traded Notes) | |
|---|---|---|
| 1-year return | +87.8% | +14.7% |
| 5-year return | -59.2% | +36.8% |
| Volatility (ann.) | 95.6% | 29.5% |
| Beta vs S&P 500 | 1.63 | 0.40 |
| Max drawdown (3Y) | -60.0% | -40.7% |
| Market cap | $0.3B | – |
| P/E (trailing) | 7.3 | 3.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CGEN | GRN |
|---|---|---|
| 2022 | -83.3% | -0.1% |
| 2023 | +175.0% | -3.0% |
| 2024 | -22.7% | -7.3% |
| 2025 | +0.0% | +20.3% |
| 2026 | +80.4% | -3.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CGEN and GRN good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CGEN and GRN?
As of 2026-08-27, the correlation of weekly returns between CGEN and GRN is 0.33 over 3 years, 0.33 over 1 year and 0.15 over 5 years.
Is GRN a good diversifier for CGEN?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.33 mean?
A reading of 0.33 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/cgen-vs-grn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cgen-vs-grn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CGEN correlations · GRN correlations
