CHR vs MLTX: Correlation
How closely do Cheer Holding, Inc. - Class A (CHR) and MoonLake Immunotherapeutics - Class A (MLTX) trade together? Their weekly returns over three years give a correlation of 0.33, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHR and MLTX?
On 3 years of weekly data the CHR/MLTX correlation comes out at 0.33, moderate. The past 12 months show a tighter link (0.49) than the 3-year average (0.33). The 5-year figure is 0.22, and annualized covariance runs at 2387.4 %².
Few assets follow CHR as closely as MLTX, which ranks #1 of 20 tracked partners. Their recent paths diverged sharply: over the last 12 months MLTX outperformed by 26.9 percentage points (-98.9% for CHR against -72.0% for MLTX).
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.
CHR vs MLTX: side by side
| CHR (Cheer Holding, Inc. - Class A) | MLTX (MoonLake Immunotherapeutics - Class A) | |
|---|---|---|
| 1-year return | -98.9% | -72.0% |
| 5-year return | -100.0% | +57.2% |
| Volatility (ann.) | 89.2% | 80.7% |
| Beta vs S&P 500 | 0.17 | 0.83 |
| Max drawdown (3Y) | -99.8% | -90.2% |
| Market cap | – | $1.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHR | MLTX |
|---|---|---|
| 2022 | +23.7% | +6.2% |
| 2023 | -78.5% | +475.1% |
| 2024 | -20.7% | -10.3% |
| 2025 | -99.0% | -75.7% |
| 2026 | -52.6% | +17.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHR and MLTX good diversifiers for each other?
Reasonably. At 0.33, CHR and MLTX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CHR and MLTX?
The CHR/MLTX correlation stands at 0.33 on a 3-year window (1 year: 0.49, 5 years: 0.22), computed from weekly returns as of 2026-08-27.
Is MLTX a good diversifier for CHR?
Reasonably. At 0.33, CHR and MLTX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.33 mean?
On the −1 to +1 scale, 0.33 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/chr-vs-mltx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/chr-vs-mltx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CHR correlations · MLTX correlations
