CLDX vs DNLI: Correlation
Celldex Therapeutics, Inc. (CLDX) and Denali Therapeutics Inc. (DNLI) show a moderate relationship: their 3-year correlation of weekly returns is 0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLDX and DNLI?
Across a 3-year window, the weekly returns of CLDX and DNLI correlate at 0.55, moderate. Little has changed lately, as the 1-year reading of 0.47 lands near the 3-year figure. Stretching to 5 years gives 0.56, with an annualized covariance of 1983.3 %².
DNLI is one of the assets that tracks CLDX most closely: it ranks #3 out of the 18 assets we track against CLDX. Correlation aside, the last 12 months split them widely, with CLDX ahead by 20.9 points (+79.0% versus +58.1%).
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.
CLDX vs DNLI: side by side
| CLDX (Celldex Therapeutics, Inc.) | DNLI (Denali Therapeutics Inc.) | |
|---|---|---|
| 1-year return | +79.0% | +58.1% |
| 5-year return | -21.9% | -53.4% |
| Volatility (ann.) | 59.4% | 60.6% |
| Beta vs S&P 500 | 1.48 | 2.02 |
| Max drawdown (3Y) | -70.8% | -63.7% |
| Market cap | $3.2B | $3.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLDX | DNLI |
|---|---|---|
| 2022 | +15.3% | -37.6% |
| 2023 | -11.0% | -22.8% |
| 2024 | -36.3% | -5.0% |
| 2025 | +7.5% | -19.0% |
| 2026 | +49.0% | +49.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLDX and DNLI good diversifiers for each other?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CLDX and DNLI?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.47 over the last year and 0.56 over 5 years.
Is DNLI a good diversifier for CLDX?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.55 mean?
A reading of 0.55 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/cldx-vs-dnli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cldx-vs-dnli/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CLDX correlations · DNLI correlations
