CTMX vs NAKA: Correlation
How closely do CytomX Therapeutics, Inc. (CTMX) and Nakamoto Inc. (NAKA) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTMX and NAKA?
On 3 years of weekly data the CTMX/NAKA correlation comes out at 0.55, moderate. The past 12 months show a weaker link (0.03) than the 3-year average (0.55). The 5-year figure is n/a, and annualized covariance runs at 13482.6 %².
NAKA is one of the assets that tracks CTMX most closely: it ranks #1 out of the 13 assets we track against CTMX. Their recent paths diverged sharply: over the last 12 months CTMX outperformed by 162.1 percentage points (+65.2% for CTMX against -96.9% for NAKA). Note the risk asymmetry: NAKA runs 1.5 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 NAKA: side by side
| CTMX (CytomX Therapeutics, Inc.) | NAKA (Nakamoto Inc.) | |
|---|---|---|
| 1-year return | +65.2% | -96.9% |
| 5-year return | -32.5% | n/a |
| Volatility (ann.) | 151.3% | 231.2% |
| Beta vs S&P 500 | 2.53 | 4.09 |
| Max drawdown (3Y) | -91.6% | -99.7% |
| Market cap | $0.7B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CTMX | NAKA |
|---|---|---|
| 2022 | -63.0% | – |
| 2023 | -3.1% | – |
| 2024 | -33.5% | – |
| 2025 | +313.6% | -71.7% |
| 2026 | -19.7% | -44.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTMX and NAKA good diversifiers for each other?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CTMX and NAKA?
The CTMX/NAKA correlation stands at 0.55 on a 3-year window (1 year: 0.03, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is NAKA a good diversifier for CTMX?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.55 mean?
On the −1 to +1 scale, 0.55 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: CTMX correlations · NAKA correlations
