CSX vs TOVX: Correlation
How closely do CSX Corporation (CSX) and Theriva Biologics, Inc. (TOVX) 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 CSX and TOVX?
On 3 years of weekly data the CSX/TOVX correlation comes out at 0.30, moderate. Little has changed lately, as the 1-year reading of 0.36 lands near the 3-year figure. The 5-year figure is 0.26, and annualized covariance runs at 633.4 %².
Among the 30 assets we track against CSX, TOVX ranks #20 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CSX outperformed by 100.5 percentage points (+60.6% for CSX against -39.9% for TOVX). Risk is not evenly split, since TOVX carries 5.5 times the volatility of the other side.
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.
CSX vs TOVX: side by side
| CSX (CSX Corporation) | TOVX (Theriva Biologics, Inc.) | |
|---|---|---|
| 1-year return | +60.6% | -39.9% |
| 5-year return | +66.2% | -99.8% |
| Volatility (ann.) | 19.7% | 108.1% |
| Beta vs S&P 500 | 0.62 | 1.15 |
| Max drawdown (3Y) | -29.4% | -98.8% |
| Market cap | $95.5B | – |
| P/E (trailing) | 30.1 | 0.2 |
| Dividend yield | 1.04% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | CSX | TOVX |
|---|---|---|
| 2022 | -16.6% | -83.3% |
| 2023 | +13.5% | -4.4% |
| 2024 | -5.6% | -83.7% |
| 2025 | +14.1% | -88.0% |
| 2026 | +43.1% | +20.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSX and TOVX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CSX and TOVX?
Using weekly returns as of 2026-08-27: 0.30 over 3 years, with 0.36 over the last year and 0.26 over 5 years.
Is TOVX a good diversifier for CSX?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.30 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/csx-vs-tovx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/csx-vs-tovx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CSX correlations · TOVX correlations
