FANG vs TCRT: Correlation
Measured on weekly returns over the past three years, Diamondback Energy (FANG) 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 FANG and TCRT?
On 3 years of weekly data the FANG/TCRT correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.14 lands near the 3-year figure. The 5-year figure is -0.05, and annualized covariance runs at -861.8 %².
Within FANG's tracked universe of 41 assets, TCRT comes in at #31 by 3-year correlation. The last year tells two different stories: FANG led by 51.8 percentage points, +39.6% for FANG against -12.2% for TCRT. Risk is not evenly split, since TCRT carries 3.6 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.
FANG vs TCRT: side by side
| FANG (Diamondback Energy) | TCRT (Alaunos Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +39.6% | -12.2% |
| 5-year return | +224.9% | -99.3% |
| Volatility (ann.) | 34.1% | 121.9% |
| Beta vs S&P 500 | 0.32 | -1.11 |
| Max drawdown (3Y) | -42.1% | -95.0% |
| Market cap | $56.1B | – |
| P/E (trailing) | 38.0 | – |
| Dividend yield | 2.13% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | FANG | TCRT |
|---|---|---|
| 2022 | +35.3% | -40.4% |
| 2023 | +19.7% | -89.2% |
| 2024 | +10.3% | -81.8% |
| 2025 | -5.6% | +69.1% |
| 2026 | +35.7% | -48.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FANG and TCRT good diversifiers for each other?
Yes. With a correlation of -0.21, FANG and TCRT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FANG and TCRT?
As of 2026-08-27, the correlation of weekly returns between FANG and TCRT is -0.21 over 3 years, -0.14 over 1 year and -0.05 over 5 years.
Is TCRT a good diversifier for FANG?
Yes. With a correlation of -0.21, FANG and TCRT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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/fang-vs-tcrt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fang-vs-tcrt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FANG correlations · TCRT correlations
