CNTB vs PTN: Correlation
How closely do Connect Biopharma Holdings Limited (CNTB) and Palatin Technologies, Inc. (PTN) trade together? Their weekly returns over three years give a correlation of 0.30, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNTB and PTN?
On 3 years of weekly data the CNTB/PTN correlation comes out at 0.30, moderate. The link has tightened recently: the 1-year correlation (0.49) runs above the 3-year figure (0.30). The 5-year figure is 0.23, and annualized covariance runs at 4310.1 %².
Few assets follow CNTB as closely as PTN, which ranks #2 of 10 tracked partners. Their recent paths diverged sharply: over the last 12 months CNTB outperformed by 29.1 percentage points (+28.1% for CNTB against -1.0% for PTN).
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 PTN: side by side
| CNTB (Connect Biopharma Holdings Limited) | PTN (Palatin Technologies, Inc.) | |
|---|---|---|
| 1-year return | +28.1% | -1.0% |
| 5-year return | -89.0% | -98.3% |
| Volatility (ann.) | 99.0% | 145.6% |
| Beta vs S&P 500 | -0.06 | 0.13 |
| Max drawdown (3Y) | -75.0% | -98.5% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | 95.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNTB | PTN |
|---|---|---|
| 2022 | -83.1% | -79.9% |
| 2023 | +35.9% | +55.5% |
| 2024 | +16.9% | -72.1% |
| 2025 | +104.3% | -72.3% |
| 2026 | -19.1% | -31.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNTB and PTN good diversifiers for each other?
Reasonably. At 0.30, CNTB and PTN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CNTB and PTN?
The CNTB/PTN correlation stands at 0.30 on a 3-year window (1 year: 0.49, 5 years: 0.23), computed from weekly returns as of 2026-08-27.
Is PTN a good diversifier for CNTB?
Reasonably. At 0.30, CNTB and PTN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.30 mean?
On the −1 to +1 scale, 0.30 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cntb-vs-ptn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cntb-vs-ptn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CNTB correlations · PTN correlations
