CRNX vs WRAP: Correlation
Crinetics Pharmaceuticals, Inc. (CRNX) and Wrap Technologies, Inc. (WRAP) show a moderate relationship: their 3-year correlation of weekly returns is 0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRNX and WRAP?
On 3 years of weekly data the CRNX/WRAP correlation comes out at 0.35, moderate. The past 12 months show a tighter link (0.61) than the 3-year average (0.35). The 5-year figure is 0.26, and annualized covariance runs at 3416.3 %².
By 3-year correlation, WRAP places #7 of the 12 assets tracked against CRNX. The last year tells two different stories: CRNX led by 148.8 percentage points, +179.1% for CRNX against +30.3% for WRAP.
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.
CRNX vs WRAP: side by side
| CRNX (Crinetics Pharmaceuticals, Inc.) | WRAP (Wrap Technologies, Inc.) | |
|---|---|---|
| 1-year return | +179.1% | +30.3% |
| 5-year return | +269.7% | -77.2% |
| Volatility (ann.) | 91.7% | 106.0% |
| Beta vs S&P 500 | 1.58 | 2.11 |
| Max drawdown (3Y) | -57.9% | -76.8% |
| Market cap | $9.0B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRNX | WRAP |
|---|---|---|
| 2022 | -35.6% | -57.0% |
| 2023 | +94.4% | +83.4% |
| 2024 | +43.7% | -31.6% |
| 2025 | -9.0% | +12.3% |
| 2026 | +82.3% | -27.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRNX and WRAP good diversifiers for each other?
Reasonably. At 0.35, CRNX and WRAP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CRNX and WRAP?
The CRNX/WRAP correlation stands at 0.35 on a 3-year window (1 year: 0.61, 5 years: 0.26), computed from weekly returns as of 2026-08-27.
Is WRAP a good diversifier for CRNX?
Reasonably. At 0.35, CRNX and WRAP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.35 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/crnx-vs-wrap.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/crnx-vs-wrap/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CRNX correlations · WRAP correlations
