CHRS vs PYT: Correlation
How closely do Coherus Oncology, Inc. (CHRS) and PPlus Tr GSC-2 Tr Ctf Fltg Rate (PYT) trade together? Their weekly returns over three years give a correlation of 0.32, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHRS and PYT?
Over the past 3 years, CHRS and PYT moved with a correlation of 0.32, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.10 versus 0.32 over 3 years. Over 5 years the correlation is 0.18, and the annualized covariance of weekly returns is 315.8 %².
Among the 13 assets we track against CHRS, PYT ranks #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CHRS ahead by 23.0 points (+28.1% versus +5.1%). Note the risk asymmetry: CHRS runs 10.6 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.
CHRS vs PYT: side by side
| CHRS (Coherus Oncology, Inc.) | PYT (PPlus Tr GSC-2 Tr Ctf Fltg Rate) | |
|---|---|---|
| 1-year return | +28.1% | +5.1% |
| 5-year return | -90.8% | +19.5% |
| Volatility (ann.) | 102.6% | 9.7% |
| Beta vs S&P 500 | 1.59 | 0.15 |
| Max drawdown (3Y) | -87.7% | -6.1% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHRS | PYT |
|---|---|---|
| 2022 | -50.4% | -14.1% |
| 2023 | -58.0% | +10.8% |
| 2024 | -58.6% | +8.3% |
| 2025 | +2.9% | +8.2% |
| 2026 | +2.8% | +4.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHRS and PYT good diversifiers for each other?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CHRS and PYT?
Using weekly returns as of 2026-08-27: 0.32 over 3 years, with 0.10 over the last year and 0.18 over 5 years.
Is PYT a good diversifier for CHRS?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.32 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/chrs-vs-pyt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/chrs-vs-pyt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CHRS correlations · PYT correlations
