CGON vs TCRX: Correlation
How closely do CG Oncology, Inc. (CGON) and TScan Therapeutics, Inc. (TCRX) trade together? Their weekly returns over three years give a correlation of 0.51, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CGON and TCRX?
Across a 3-year window, the weekly returns of CGON and TCRX correlate at 0.51, moderate. Recent behaviour matches the longer record: 0.49 over 1 year against 0.51 over 3. Stretching to 5 years gives n/a, with an annualized covariance of 2491.5 %².
In CGON's tracked universe of 17 assets, TCRX sits right near the top at #3. Their recent paths diverged sharply: over the last 12 months CGON outperformed by 258.3 percentage points (+198.4% for CGON against -59.9% for TCRX).
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 TCRX: side by side
| CGON (CG Oncology, Inc.) | TCRX (TScan Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +198.4% | -59.9% |
| 5-year return | n/a | -91.3% |
| Volatility (ann.) | 61.8% | 82.6% |
| Beta vs S&P 500 | 1.57 | 2.01 |
| Max drawdown (3Y) | -67.5% | -92.4% |
| Market cap | $7.0B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CGON | TCRX |
|---|---|---|
| 2022 | – | -65.6% |
| 2023 | – | +276.1% |
| 2024 | – | -47.9% |
| 2025 | +44.8% | -67.1% |
| 2026 | +90.3% | -25.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CGON and TCRX good diversifiers for each other?
Only partially. A correlation of 0.51 means CGON and TCRX 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 CGON and TCRX?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.49 over the last year and n/a over 5 years.
Is TCRX a good diversifier for CGON?
Only partially. A correlation of 0.51 means CGON and TCRX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 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/cgon-vs-tcrx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cgon-vs-tcrx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CGON correlations · TCRX correlations
