CLDI vs WKHS: Correlation
Calidi Biotherapeutics, Inc. (CLDI) and Workhorse Group, Inc. (WKHS) show a moderate relationship: their 3-year correlation of weekly returns is 0.59.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLDI and WKHS?
Across a 3-year window, the weekly returns of CLDI and WKHS correlate at 0.59, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.02 versus 0.59 over 3 years. Stretching to 5 years gives 0.55, with an annualized covariance of 17146.9 %².
In CLDI's tracked universe of 14 assets, WKHS sits right near the top at #3. The trailing year gives WKHS the advantage: -95.1% versus -80.6%, a 14.5-point spread.
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 WKHS: side by side
| CLDI (Calidi Biotherapeutics, Inc.) | WKHS (Workhorse Group, Inc.) | |
|---|---|---|
| 1-year return | -95.1% | -80.6% |
| 5-year return | -100.0% | -100.0% |
| Volatility (ann.) | 182.9% | 157.8% |
| Beta vs S&P 500 | 1.03 | 1.44 |
| 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 | WKHS |
|---|---|---|
| 2022 | +3.7% | -65.1% |
| 2023 | -85.2% | -76.3% |
| 2024 | -92.4% | -90.3% |
| 2025 | -91.5% | -95.1% |
| 2026 | -93.1% | -37.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLDI and WKHS good diversifiers for each other?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CLDI and WKHS?
Using weekly returns as of 2026-08-27: 0.59 over 3 years, with 0.02 over the last year and 0.55 over 5 years.
Is WKHS a good diversifier for CLDI?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.59 mean?
A reading of 0.59 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
$ curl https://www.pairbook.io/api/v1/pairs/cldi-vs-wkhs.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cldi-vs-wkhs/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CLDI correlations · WKHS correlations
