CGON vs FRGT: Correlation
Measured on weekly returns over the past three years, CG Oncology, Inc. (CGON) and Freight Technologies, Inc. (FRGT) carry a correlation of 0.34, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CGON and FRGT?
Over the past 3 years, CGON and FRGT moved with a correlation of 0.34, which is moderate. The link has loosened recently: the 1-year correlation (0.12) runs below the 3-year figure (0.34). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 2533.9 %².
Among the 17 assets we track against CGON, FRGT ranks #12 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CGON outperformed by 293.8 percentage points (+198.4% for CGON against -95.4% for FRGT). Note the risk asymmetry: FRGT runs 1.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 FRGT: side by side
| CGON (CG Oncology, Inc.) | FRGT (Freight Technologies, Inc.) | |
|---|---|---|
| 1-year return | +198.4% | -95.4% |
| 5-year return | n/a | -100.0% |
| Volatility (ann.) | 61.8% | 119.4% |
| Beta vs S&P 500 | 1.57 | 1.68 |
| Max drawdown (3Y) | -67.5% | -100.0% |
| Market cap | $7.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CGON | FRGT |
|---|---|---|
| 2022 | – | -96.2% |
| 2023 | – | -85.3% |
| 2024 | – | -97.8% |
| 2025 | +44.8% | -95.6% |
| 2026 | +90.3% | -82.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CGON and FRGT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CGON and FRGT?
Using weekly returns as of 2026-08-27: 0.34 over 3 years, with 0.12 over the last year and n/a over 5 years.
Is FRGT a good diversifier for CGON?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.34 mean?
A reading of 0.34 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-frgt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cgon-vs-frgt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CGON correlations · FRGT correlations
