CGON vs ERAS: Correlation
CG Oncology, Inc. (CGON) and Erasca, Inc. (ERAS) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CGON and ERAS?
On 3 years of weekly data the CGON/ERAS correlation comes out at 0.47, moderate. Little has changed lately, as the 1-year reading of 0.48 lands near the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at 2915.1 %².
Among the 17 assets we track against CGON, ERAS ranks #6 by 3-year correlation. The last year tells two different stories: ERAS led by 935.1 percentage points, +198.4% for CGON against +1133.5% for ERAS. Risk is not evenly split, since ERAS carries 1.6 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.
CGON vs ERAS: side by side
| CGON (CG Oncology, Inc.) | ERAS (Erasca, Inc.) | |
|---|---|---|
| 1-year return | +198.4% | +1133.5% |
| 5-year return | n/a | -17.1% |
| Volatility (ann.) | 61.8% | 99.2% |
| Beta vs S&P 500 | 1.57 | 1.88 |
| Max drawdown (3Y) | -67.5% | -67.7% |
| Market cap | $7.0B | $6.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CGON | ERAS |
|---|---|---|
| 2022 | – | -72.3% |
| 2023 | – | -50.6% |
| 2024 | – | +17.8% |
| 2025 | +44.8% | +48.2% |
| 2026 | +90.3% | +423.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CGON and ERAS good diversifiers for each other?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CGON and ERAS?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.48 over the last year and n/a over 5 years.
Is ERAS a good diversifier for CGON?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.47 mean?
A reading of 0.47 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/cgon-vs-eras.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cgon-vs-eras/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CGON correlations · ERAS correlations
