CSTL vs NEO: Correlation
Measured on weekly returns over the past three years, Castle Biosciences, Inc. (CSTL) and NeoGenomics, Inc. (NEO) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSTL and NEO?
Over the past 3 years, CSTL and NEO moved with a correlation of 0.50, which is moderate. Recent behaviour matches the longer record: 0.58 over 1 year against 0.50 over 3. Over 5 years the correlation is 0.42, and the annualized covariance of weekly returns is 1927.5 %².
In CSTL's tracked universe of 12 assets, NEO sits right near the top at #2. The last year tells two different stories: NEO led by 109.5 percentage points, +53.8% for CSTL against +163.3% for NEO.
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.
CSTL vs NEO: side by side
| CSTL (Castle Biosciences, Inc.) | NEO (NeoGenomics, Inc.) | |
|---|---|---|
| 1-year return | +53.8% | +163.3% |
| 5-year return | -54.0% | -62.1% |
| Volatility (ann.) | 64.2% | 59.7% |
| Beta vs S&P 500 | 0.79 | 1.17 |
| Max drawdown (3Y) | -57.8% | -76.7% |
| Market cap | $1.0B | $2.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CSTL | NEO |
|---|---|---|
| 2022 | -45.1% | -72.9% |
| 2023 | -8.3% | +75.1% |
| 2024 | +23.5% | +1.9% |
| 2025 | +46.0% | -28.6% |
| 2026 | -11.9% | +58.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSTL and NEO good diversifiers for each other?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CSTL and NEO?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.58 over the last year and 0.42 over 5 years.
Is NEO a good diversifier for CSTL?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.50 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/cstl-vs-neo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cstl-vs-neo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CSTL correlations · NEO correlations
