CRDL vs XNCR: Correlation
Measured on weekly returns over the past three years, Cardiol Therapeutics Inc. - Class A (CRDL) and Xencor, Inc. (XNCR) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRDL and XNCR?
Over the past 3 years, CRDL and XNCR moved with a correlation of 0.38, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.09 versus 0.38 over 3 years. Over 5 years the correlation is 0.24, and the annualized covariance of weekly returns is 1759.0 %².
Within CRDL's tracked universe of 10 assets, XNCR comes in at #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months XNCR outperformed by 176.2 percentage points (+83.9% for CRDL against +260.1% for XNCR).
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.
CRDL vs XNCR: side by side
| CRDL (Cardiol Therapeutics Inc. - Class A) | XNCR (Xencor, Inc.) | |
|---|---|---|
| 1-year return | +83.9% | +260.1% |
| 5-year return | -43.7% | -14.8% |
| Volatility (ann.) | 77.0% | 60.9% |
| Beta vs S&P 500 | 1.22 | 1.37 |
| Max drawdown (3Y) | -72.7% | -73.9% |
| Market cap | $0.2B | $2.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRDL | XNCR |
|---|---|---|
| 2022 | -72.4% | -35.1% |
| 2023 | +65.3% | -18.5% |
| 2024 | +51.8% | +8.2% |
| 2025 | -25.5% | -33.4% |
| 2026 | +115.9% | +88.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRDL and XNCR good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CRDL and XNCR?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.09 over the last year and 0.24 over 5 years.
Is XNCR a good diversifier for CRDL?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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.
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Related comparisons
Hubs: CRDL correlations · XNCR correlations
