CNTB vs PACS: Correlation
How closely do Connect Biopharma Holdings Limited (CNTB) and PACS Group, Inc. (PACS) trade together? Their weekly returns over three years give a correlation of 0.26, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNTB and PACS?
On 3 years of weekly data the CNTB/PACS correlation comes out at 0.26, weak. The link has tightened recently: the 1-year correlation (0.40) runs above the 3-year figure (0.26). The 5-year figure is n/a, and annualized covariance runs at 2845.2 %².
By 3-year correlation, PACS places #5 of the 10 assets tracked against CNTB. Correlation aside, the last 12 months split them widely, with PACS ahead by 244.9 points (+28.1% versus +273.0%).
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 PACS: side by side
| CNTB (Connect Biopharma Holdings Limited) | PACS (PACS Group, Inc.) | |
|---|---|---|
| 1-year return | +28.1% | +273.0% |
| 5-year return | -89.0% | n/a |
| Volatility (ann.) | 99.0% | 120.5% |
| Beta vs S&P 500 | -0.06 | 0.06 |
| Max drawdown (3Y) | -75.0% | -82.0% |
| Market cap | $0.1B | $7.0B |
| P/E (trailing) | – | 25.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNTB | PACS |
|---|---|---|
| 2022 | -83.1% | – |
| 2023 | +35.9% | – |
| 2024 | +16.9% | – |
| 2025 | +104.3% | +192.8% |
| 2026 | -19.1% | +15.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNTB and PACS good diversifiers for each other?
Reasonably. At 0.26, CNTB and PACS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CNTB and PACS?
Using weekly returns as of 2026-08-27: 0.26 over 3 years, with 0.40 over the last year and n/a over 5 years.
Is PACS a good diversifier for CNTB?
Reasonably. At 0.26, CNTB and PACS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.26 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-pacs.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cntb-vs-pacs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CNTB correlations · PACS correlations
