CNTB vs LB: Correlation
Measured on weekly returns over the past three years, Connect Biopharma Holdings Limited (CNTB) and LandBridge Company LLC Class A Shares Representing Limited (LB) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNTB and LB?
Across a 3-year window, the weekly returns of CNTB and LB correlate at -0.23, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.24 over 1 year against -0.23 over 3. Stretching to 5 years gives n/a, with an annualized covariance of -1299.4 %².
Out of 10 assets tracked against CNTB, LB lands near the bottom at #10. Their recent paths diverged sharply: over the last 12 months LB outperformed by 45.1 percentage points (+28.1% for CNTB against +73.2% for LB). One caveat on sizing: CNTB is 1.6 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.
CNTB vs LB: side by side
| CNTB (Connect Biopharma Holdings Limited) | LB (LandBridge Company LLC Class A Shares Representing Limited) | |
|---|---|---|
| 1-year return | +28.1% | +73.2% |
| 5-year return | -89.0% | n/a |
| Volatility (ann.) | 99.0% | 63.4% |
| Beta vs S&P 500 | -0.06 | 1.65 |
| Max drawdown (3Y) | -75.0% | -48.2% |
| Market cap | $0.1B | $6.9B |
| P/E (trailing) | – | 79.0 |
| Dividend yield | 0.00% | 0.50% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNTB | LB |
|---|---|---|
| 2022 | -83.1% | – |
| 2023 | +35.9% | – |
| 2024 | +16.9% | – |
| 2025 | +104.3% | -23.7% |
| 2026 | -19.1% | +82.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNTB and LB good diversifiers for each other?
Yes. With a correlation of -0.23, CNTB and LB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CNTB and LB?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.24 over the last year and n/a over 5 years.
Is LB a good diversifier for CNTB?
Yes. With a correlation of -0.23, CNTB and LB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
A reading of -0.23 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/cntb-vs-lb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cntb-vs-lb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CNTB correlations · LB correlations
