CLDI vs NDRA: Correlation
Measured on weekly returns over the past three years, Calidi Biotherapeutics, Inc. (CLDI) and ENDRA Life Sciences Inc. (NDRA) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLDI and NDRA?
Across a 3-year window, the weekly returns of CLDI and NDRA correlate at 0.42, moderate. Little has changed lately, as the 1-year reading of 0.45 lands near the 3-year figure. Stretching to 5 years gives 0.38, with an annualized covariance of 11530.2 %².
Within CLDI's tracked universe of 14 assets, NDRA comes in at #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NDRA outperformed by 126.6 percentage points (-95.1% for CLDI against +31.5% for NDRA).
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.
CLDI vs NDRA: side by side
| CLDI (Calidi Biotherapeutics, Inc.) | NDRA (ENDRA Life Sciences Inc.) | |
|---|---|---|
| 1-year return | -95.1% | +31.5% |
| 5-year return | -100.0% | -100.0% |
| Volatility (ann.) | 182.9% | 150.8% |
| Beta vs S&P 500 | 1.03 | 1.41 |
| Max drawdown (3Y) | -100.0% | -99.9% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLDI | NDRA |
|---|---|---|
| 2022 | +3.7% | -70.6% |
| 2023 | -85.2% | -47.9% |
| 2024 | -92.4% | -99.8% |
| 2025 | -91.5% | -27.6% |
| 2026 | -93.1% | +19.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLDI and NDRA good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CLDI and NDRA?
As of 2026-08-27, the correlation of weekly returns between CLDI and NDRA is 0.42 over 3 years, 0.45 over 1 year and 0.38 over 5 years.
Is NDRA a good diversifier for CLDI?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 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/cldi-vs-ndra.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cldi-vs-ndra/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CLDI correlations · NDRA correlations
