CTMX vs CVS: Correlation
How closely do CytomX Therapeutics, Inc. (CTMX) and CVS Health (CVS) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTMX and CVS?
On 3 years of weekly data the CTMX/CVS correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.10) than the 3-year average (-0.26). The 5-year figure is -0.17, and annualized covariance runs at -1342.6 %².
CVS is close to the least connected end of CTMX's tracked universe, ranking #11 of 13. Correlation aside, the last 12 months split them widely, with CTMX ahead by 31.9 points (+65.2% versus +33.3%). Note the risk asymmetry: CTMX runs 4.4 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CTMX vs CVS: side by side
| CTMX (CytomX Therapeutics, Inc.) | CVS (CVS Health) | |
|---|---|---|
| 1-year return | +65.2% | +33.3% |
| 5-year return | -32.5% | +29.6% |
| Volatility (ann.) | 151.3% | 34.4% |
| Beta vs S&P 500 | 2.53 | 0.40 |
| Max drawdown (3Y) | -91.6% | -44.0% |
| Market cap | $0.7B | $118.8B |
| P/E (trailing) | – | 24.8 |
| Dividend yield | 0.00% | 2.82% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | CTMX | CVS |
|---|---|---|
| 2022 | -63.0% | -7.6% |
| 2023 | -3.1% | -12.5% |
| 2024 | -33.5% | -40.8% |
| 2025 | +313.6% | +84.3% |
| 2026 | -19.7% | +19.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTMX and CVS good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between CTMX and CVS?
The CTMX/CVS correlation stands at -0.26 on a 3-year window (1 year: -0.10, 5 years: -0.17), computed from weekly returns as of 2026-08-27.
Is CVS a good diversifier for CTMX?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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
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Related comparisons
Hubs: CTMX correlations · CVS correlations
