DWTX vs RNAZ: Correlation
Dogwood Therapeutics, Inc. (DWTX) and TransCode Therapeutics, Inc. (RNAZ) show a moderate relationship: their 3-year correlation of weekly returns is 0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DWTX and RNAZ?
On 3 years of weekly data the DWTX/RNAZ correlation comes out at 0.33, moderate. The link has loosened recently: the 1-year correlation (-0.20) runs below the 3-year figure (0.33). The 5-year figure is 0.29, and annualized covariance runs at 18221.3 %².
Among the 18 assets we track against DWTX, RNAZ ranks #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months DWTX outperformed by 27.2 percentage points (-50.1% for DWTX against -77.3% for RNAZ). Risk is not evenly split, since DWTX carries 1.8 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.
DWTX vs RNAZ: side by side
| DWTX (Dogwood Therapeutics, Inc.) | RNAZ (TransCode Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -50.1% | -77.3% |
| 5-year return | -98.2% | -100.0% |
| Volatility (ann.) | 314.7% | 173.5% |
| Beta vs S&P 500 | 2.56 | 2.47 |
| Max drawdown (3Y) | -95.6% | -100.0% |
| Market cap | $0.1B | – |
| P/E (trailing) | 1.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DWTX | RNAZ |
|---|---|---|
| 2022 | -95.4% | -73.5% |
| 2023 | +143.6% | -98.8% |
| 2024 | -82.7% | -98.5% |
| 2025 | +67.1% | -92.8% |
| 2026 | -44.2% | -66.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DWTX and RNAZ good diversifiers for each other?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DWTX and RNAZ?
As of 2026-08-27, the correlation of weekly returns between DWTX and RNAZ is 0.33 over 3 years, -0.20 over 1 year and 0.29 over 5 years.
Is RNAZ a good diversifier for DWTX?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.33 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/dwtx-vs-rnaz.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dwtx-vs-rnaz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DWTX correlations · RNAZ correlations
