CLDX vs PTGX: Correlation
How closely do Celldex Therapeutics, Inc. (CLDX) and Protagonist Therapeutics, Inc. (PTGX) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLDX and PTGX?
Across a 3-year window, the weekly returns of CLDX and PTGX correlate at 0.42, moderate. The relationship has been stable: the 1-year correlation (0.32) sits close to the 3-year figure. Stretching to 5 years gives 0.29, with an annualized covariance of 1337.5 %².
Within CLDX's tracked universe of 18 assets, PTGX comes in at #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PTGX outperformed by 64.4 percentage points (+79.0% for CLDX against +143.4% for PTGX).
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 PTGX: side by side
| CLDX (Celldex Therapeutics, Inc.) | PTGX (Protagonist Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +79.0% | +143.4% |
| 5-year return | -21.9% | +219.7% |
| Volatility (ann.) | 59.4% | 53.0% |
| Beta vs S&P 500 | 1.48 | 0.49 |
| Max drawdown (3Y) | -70.8% | -31.6% |
| Market cap | $3.2B | $9.7B |
| P/E (trailing) | – | 145.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLDX | PTGX |
|---|---|---|
| 2022 | +15.3% | -68.1% |
| 2023 | -11.0% | +110.2% |
| 2024 | -36.3% | +68.3% |
| 2025 | +7.5% | +126.3% |
| 2026 | +49.0% | +71.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLDX and PTGX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CLDX and PTGX?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.32 over the last year and 0.29 over 5 years.
Is PTGX a good diversifier for CLDX?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
A reading of 0.42 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-ptgx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cldx-vs-ptgx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CLDX correlations · PTGX correlations
