ESS vs TCRT: Correlation
Measured on weekly returns over the past three years, Essex Property Trust (ESS) and Alaunos Therapeutics, Inc. (TCRT) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ESS and TCRT?
On 3 years of weekly data the ESS/TCRT correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.24 over 1 year against -0.21 over 3. The 5-year figure is -0.08, and annualized covariance runs at -580.1 %².
Among the 31 assets we track against ESS, TCRT ranks #26 by 3-year correlation. The last year tells two different stories: ESS led by 21.3 percentage points, +9.1% for ESS against -12.2% for TCRT. One caveat on sizing: TCRT is 5.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ESS vs TCRT: side by side
| ESS (Essex Property Trust) | TCRT (Alaunos Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +9.1% | -12.2% |
| 5-year return | +3.0% | -99.3% |
| Volatility (ann.) | 22.2% | 121.9% |
| Beta vs S&P 500 | 0.64 | -1.11 |
| Max drawdown (3Y) | -20.8% | -95.0% |
| Market cap | $19.4B | – |
| P/E (trailing) | 44.8 | – |
| Dividend yield | 3.58% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | ESS | TCRT |
|---|---|---|
| 2022 | -37.8% | -40.4% |
| 2023 | +22.0% | -89.2% |
| 2024 | +18.4% | -81.8% |
| 2025 | -5.0% | +69.1% |
| 2026 | +10.5% | -48.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ESS and TCRT good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between ESS and TCRT?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.24 over the last year and -0.08 over 5 years.
Is TCRT a good diversifier for ESS?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
A reading of -0.21 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ess-vs-tcrt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ess-vs-tcrt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ESS correlations · TCRT correlations
