CTMX vs UNH: Correlation
Measured on weekly returns over the past three years, CytomX Therapeutics, Inc. (CTMX) and UnitedHealth Group (UNH) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTMX and UNH?
On 3 years of weekly data the CTMX/UNH correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.08) than the 3-year average (-0.27). The 5-year figure is -0.23, and annualized covariance runs at -1651.1 %².
Among the 13 assets we track against CTMX, UNH sits near the bottom by co-movement, at rank #12. Correlation aside, the last 12 months split them widely, with CTMX ahead by 31.7 points (+65.2% versus +33.5%). Note the risk asymmetry: CTMX runs 3.8 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 UNH: side by side
| CTMX (CytomX Therapeutics, Inc.) | UNH (UnitedHealth Group) | |
|---|---|---|
| 1-year return | +65.2% | +33.5% |
| 5-year return | -32.5% | +3.1% |
| Volatility (ann.) | 151.3% | 39.8% |
| Beta vs S&P 500 | 2.53 | 0.17 |
| Max drawdown (3Y) | -91.6% | -61.4% |
| Market cap | $0.7B | $354.6B |
| P/E (trailing) | – | 25.8 |
| Dividend yield | 0.00% | 2.23% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | CTMX | UNH |
|---|---|---|
| 2022 | -63.0% | +6.9% |
| 2023 | -3.1% | +0.8% |
| 2024 | -33.5% | -2.4% |
| 2025 | +313.6% | -33.1% |
| 2026 | -19.7% | +21.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTMX and UNH good diversifiers for each other?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CTMX and UNH?
The CTMX/UNH correlation stands at -0.27 on a 3-year window (1 year: -0.08, 5 years: -0.23), computed from weekly returns as of 2026-08-27.
Is UNH a good diversifier for CTMX?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.27 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/ctmx-vs-unh.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ctmx-vs-unh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CTMX correlations · UNH correlations
