CRBU vs OVID: Correlation
How closely do Caribou Biosciences, Inc. (CRBU) and Ovid Therapeutics Inc. (OVID) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRBU and OVID?
On 3 years of weekly data the CRBU/OVID correlation comes out at 0.46, moderate. The relationship has been stable: the 1-year correlation (0.42) sits close to the 3-year figure. The 5-year figure is 0.35, and annualized covariance runs at 3848.6 %².
Within CRBU's tracked universe of 17 assets, OVID comes in at #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with OVID ahead by 148.7 points (-16.2% versus +132.5%).
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.
CRBU vs OVID: side by side
| CRBU (Caribou Biosciences, Inc.) | OVID (Ovid Therapeutics Inc.) | |
|---|---|---|
| 1-year return | -16.2% | +132.5% |
| 5-year return | -93.2% | -16.5% |
| Volatility (ann.) | 80.5% | 103.3% |
| Beta vs S&P 500 | 2.52 | 2.01 |
| Max drawdown (3Y) | -91.1% | -93.7% |
| Market cap | $0.2B | $0.6B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRBU | OVID |
|---|---|---|
| 2022 | -58.4% | -42.1% |
| 2023 | -8.8% | +73.1% |
| 2024 | -72.3% | -71.0% |
| 2025 | +0.0% | +74.5% |
| 2026 | +4.4% | +79.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRBU and OVID good diversifiers for each other?
Reasonably. At 0.46, CRBU and OVID keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CRBU and OVID?
As of 2026-08-27, the correlation of weekly returns between CRBU and OVID is 0.46 over 3 years, 0.42 over 1 year and 0.35 over 5 years.
Is OVID a good diversifier for CRBU?
Reasonably. At 0.46, CRBU and OVID keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.46 mean?
On the −1 to +1 scale, 0.46 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/crbu-vs-ovid.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/crbu-vs-ovid/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CRBU correlations · OVID correlations
