CHMG vs ENTX: Correlation
Chemung Financial Corp (CHMG) and Entera Bio Ltd. (ENTX) show a negative relationship: their 3-year correlation of weekly returns is -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHMG and ENTX?
Over the past 3 years, CHMG and ENTX moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.29 lands near the 3-year figure. Over 5 years the correlation is -0.16, and the annualized covariance of weekly returns is -614.3 %².
Out of 10 assets tracked against CHMG, ENTX lands near the bottom at #8. Twelve-month performance is nearly a tie, at +55.6% for CHMG and +57.1% for ENTX. Risk is not evenly split, since ENTX carries 3.6 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.
CHMG vs ENTX: side by side
| CHMG (Chemung Financial Corp) | ENTX (Entera Bio Ltd.) | |
|---|---|---|
| 1-year return | +55.6% | +57.1% |
| 5-year return | +104.0% | -36.1% |
| Volatility (ann.) | 26.7% | 96.7% |
| Beta vs S&P 500 | 0.46 | 0.33 |
| Max drawdown (3Y) | -25.1% | -68.2% |
| Market cap | $0.4B | $0.5B |
| P/E (trailing) | 11.6 | – |
| Dividend yield | 1.68% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHMG | ENTX |
|---|---|---|
| 2022 | +1.6% | -74.1% |
| 2023 | +11.7% | -17.8% |
| 2024 | +0.7% | +253.3% |
| 2025 | +17.3% | -8.5% |
| 2026 | +47.7% | +58.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHMG and ENTX good diversifiers for each other?
Yes. With a correlation of -0.24, CHMG and ENTX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CHMG and ENTX?
The CHMG/ENTX correlation stands at -0.24 on a 3-year window (1 year: -0.29, 5 years: -0.16), computed from weekly returns as of 2026-08-27.
Is ENTX a good diversifier for CHMG?
Yes. With a correlation of -0.24, CHMG and ENTX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
A reading of -0.24 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
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Related comparisons
Hubs: CHMG correlations · ENTX correlations
