CLDX vs PAVM: Correlation
Measured on weekly returns over the past three years, Celldex Therapeutics, Inc. (CLDX) and PAVmed Inc. (PAVM) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLDX and PAVM?
On 3 years of weekly data the CLDX/PAVM correlation comes out at 0.38, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.16 versus 0.38 over 3 years. The 5-year figure is 0.40, and annualized covariance runs at 2301.5 %².
Within CLDX's tracked universe of 18 assets, PAVM comes in at #10 by 3-year correlation. The last year tells two different stories: CLDX led by 143.9 percentage points, +79.0% for CLDX against -64.9% for PAVM. Risk is not evenly split, since PAVM carries 1.7 times the volatility of the other side.
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 PAVM: side by side
| CLDX (Celldex Therapeutics, Inc.) | PAVM (PAVmed Inc.) | |
|---|---|---|
| 1-year return | +79.0% | -64.9% |
| 5-year return | -21.9% | -99.8% |
| Volatility (ann.) | 59.4% | 102.0% |
| Beta vs S&P 500 | 1.48 | 1.05 |
| Max drawdown (3Y) | -70.8% | -98.1% |
| Market cap | $3.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLDX | PAVM |
|---|---|---|
| 2022 | +15.3% | -80.5% |
| 2023 | -11.0% | -42.8% |
| 2024 | -36.3% | -84.8% |
| 2025 | +7.5% | -64.8% |
| 2026 | +49.0% | -23.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLDX and PAVM good diversifiers for each other?
Reasonably. At 0.38, CLDX and PAVM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CLDX and PAVM?
As of 2026-08-27, the correlation of weekly returns between CLDX and PAVM is 0.38 over 3 years, 0.16 over 1 year and 0.40 over 5 years.
Is PAVM a good diversifier for CLDX?
Reasonably. At 0.38, CLDX and PAVM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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/cldx-vs-pavm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cldx-vs-pavm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CLDX correlations · PAVM correlations
