CLRB vs EWJ: Correlation
Cellectar Biosciences, Inc. (CLRB) and iShares MSCI Japan ETF (EWJ) show a moderate relationship: their 3-year correlation of weekly returns is 0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLRB and EWJ?
Across a 3-year window, the weekly returns of CLRB and EWJ correlate at 0.35, moderate. The relationship has been stable: the 1-year correlation (0.31) sits close to the 3-year figure. Stretching to 5 years gives 0.34, with an annualized covariance of 669.1 %².
Within CLRB's tracked universe of 10 assets, EWJ comes in at #4 by 3-year correlation. The last year tells two different stories: EWJ led by 74.4 percentage points, -47.3% for CLRB against +27.1% for EWJ. One caveat on sizing: CLRB is 5.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CLRB vs EWJ: side by side
| CLRB (Cellectar Biosciences, Inc.) | EWJ (iShares MSCI Japan ETF) | |
|---|---|---|
| 1-year return | -47.3% | +27.1% |
| 5-year return | -99.1% | +58.6% |
| Volatility (ann.) | 97.2% | 19.6% |
| Beta vs S&P 500 | 1.43 | 0.94 |
| Max drawdown (3Y) | -98.2% | -14.7% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 3.86% |
| Expense ratio | – | 0.49% |
| Assets under management | – | $21.8B |
| Sector / category | US Listed | ETF · International |
EWJ, iShares's Japan Stock fund, carries $21.8B under management, 168 holdings, a 0.49% expense ratio, a 3.86% trailing dividend yield.
Year-by-year returns
| Year | CLRB | EWJ |
|---|---|---|
| 2022 | -74.1% | -17.7% |
| 2023 | +62.0% | +20.3% |
| 2024 | -89.2% | +7.0% |
| 2025 | -67.2% | +25.8% |
| 2026 | -13.9% | +19.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLRB and EWJ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CLRB and EWJ?
As of 2026-08-27, the correlation of weekly returns between CLRB and EWJ is 0.35 over 3 years, 0.31 over 1 year and 0.34 over 5 years.
Is EWJ a good diversifier for CLRB?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/clrb-vs-ewj.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/clrb-vs-ewj/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CLRB correlations · EWJ correlations
