CNTB vs OLOX: Correlation
Measured on weekly returns over the past three years, Connect Biopharma Holdings Limited (CNTB) and Olenox Industries Inc. (OLOX) carry a correlation of 0.30, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNTB and OLOX?
Across a 3-year window, the weekly returns of CNTB and OLOX correlate at 0.30, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.46 versus 0.30 over 3 years. Stretching to 5 years gives 0.22, with an annualized covariance of 5184.3 %².
OLOX is one of the assets that tracks CNTB most closely: it ranks #1 out of the 10 assets we track against CNTB. The last year tells two different stories: CNTB led by 126.9 percentage points, +28.1% for CNTB against -98.8% for OLOX. One caveat on sizing: OLOX is 1.8 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 OLOX: side by side
| CNTB (Connect Biopharma Holdings Limited) | OLOX (Olenox Industries Inc.) | |
|---|---|---|
| 1-year return | +28.1% | -98.8% |
| 5-year return | -89.0% | -100.0% |
| Volatility (ann.) | 99.0% | 173.6% |
| Beta vs S&P 500 | -0.06 | 0.94 |
| Max drawdown (3Y) | -75.0% | -100.0% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | 0.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNTB | OLOX |
|---|---|---|
| 2022 | -83.1% | -27.1% |
| 2023 | +35.9% | -26.7% |
| 2024 | +16.9% | -94.9% |
| 2025 | +104.3% | -93.9% |
| 2026 | -19.1% | -92.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNTB and OLOX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CNTB and OLOX?
The CNTB/OLOX correlation stands at 0.30 on a 3-year window (1 year: 0.46, 5 years: 0.22), computed from weekly returns as of 2026-08-27.
Is OLOX a good diversifier for CNTB?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.30 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/cntb-vs-olox.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cntb-vs-olox/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CNTB correlations · OLOX correlations
