EBC vs TCRT: Correlation
How closely do Eastern Bankshares, Inc. (EBC) and Alaunos Therapeutics, Inc. (TCRT) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EBC and TCRT?
Across a 3-year window, the weekly returns of EBC and TCRT correlate at -0.19, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.08) runs above the 3-year figure (-0.19). Stretching to 5 years gives -0.07, with an annualized covariance of -659.3 %².
Out of 11 assets tracked against EBC, TCRT lands near the bottom at #9. The last year tells two different stories: EBC led by 47.0 percentage points, +34.8% for EBC against -12.2% for TCRT. Note the risk asymmetry: TCRT runs 4.3 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.
EBC vs TCRT: side by side
| EBC (Eastern Bankshares, Inc.) | TCRT (Alaunos Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +34.8% | -12.2% |
| 5-year return | +30.6% | -99.3% |
| Volatility (ann.) | 28.3% | 121.9% |
| Beta vs S&P 500 | 0.84 | -1.11 |
| Max drawdown (3Y) | -25.0% | -95.0% |
| Market cap | $5.1B | – |
| P/E (trailing) | 12.5 | – |
| Dividend yield | 2.41% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EBC | TCRT |
|---|---|---|
| 2022 | -12.7% | -40.4% |
| 2023 | -15.0% | -89.2% |
| 2024 | +25.1% | -81.8% |
| 2025 | +10.1% | +69.1% |
| 2026 | +23.3% | -48.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EBC and TCRT good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EBC and TCRT?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.08 over the last year and -0.07 over 5 years.
Is TCRT a good diversifier for EBC?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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
$ curl https://www.pairbook.io/api/v1/pairs/ebc-vs-tcrt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ebc-vs-tcrt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EBC correlations · TCRT correlations
