DOW vs TCRT: Correlation
Measured on weekly returns over the past three years, Dow Inc. (DOW) and Alaunos Therapeutics, Inc. (TCRT) carry a correlation of -0.17, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOW and TCRT?
On 3 years of weekly data the DOW/TCRT correlation comes out at -0.17, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.22 over 1 year against -0.17 over 3. The 5-year figure is -0.09, and annualized covariance runs at -728.8 %².
Among the 32 assets we track against DOW, TCRT ranks #27 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months DOW outperformed by 41.2 percentage points (+29.0% for DOW against -12.2% for TCRT). Risk is not evenly split, since TCRT carries 3.5 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.
DOW vs TCRT: side by side
| DOW (Dow Inc.) | TCRT (Alaunos Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +29.0% | -12.2% |
| 5-year return | -38.4% | -99.3% |
| Volatility (ann.) | 35.2% | 121.9% |
| Beta vs S&P 500 | 0.62 | -1.11 |
| Max drawdown (3Y) | -62.2% | -95.0% |
| Market cap | $21.9B | – |
| P/E (trailing) | – | – |
| Dividend yield | 4.62% | 0.00% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | DOW | TCRT |
|---|---|---|
| 2022 | -6.6% | -40.4% |
| 2023 | +14.7% | -89.2% |
| 2024 | -22.8% | -81.8% |
| 2025 | -37.4% | +69.1% |
| 2026 | +32.6% | -48.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOW and TCRT good diversifiers for each other?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DOW and TCRT?
Using weekly returns as of 2026-08-27: -0.17 over 3 years, with -0.22 over the last year and -0.09 over 5 years.
Is TCRT a good diversifier for DOW?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.17 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/dow-vs-tcrt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dow-vs-tcrt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DOW correlations · TCRT correlations
