FHB vs TCRT: Correlation
Measured on weekly returns over the past three years, First Hawaiian, Inc. (FHB) 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 FHB and TCRT?
On 3 years of weekly data the FHB/TCRT correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.23 over 1 year against -0.21 over 3. The 5-year figure is -0.09, and annualized covariance runs at -664.6 %².
Among the 18 assets we track against FHB, TCRT sits near the bottom by co-movement, at rank #16. Their recent paths diverged sharply: over the last 12 months FHB outperformed by 15.5 percentage points (+3.3% for FHB against -12.2% for TCRT). Risk is not evenly split, since TCRT carries 4.8 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.
FHB vs TCRT: side by side
| FHB (First Hawaiian, Inc.) | TCRT (Alaunos Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +3.3% | -12.2% |
| 5-year return | +16.4% | -99.3% |
| Volatility (ann.) | 25.6% | 121.9% |
| Beta vs S&P 500 | 0.77 | -1.11 |
| Max drawdown (3Y) | -24.3% | -95.0% |
| Market cap | $3.1B | – |
| P/E (trailing) | 11.3 | – |
| Dividend yield | 4.01% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FHB | TCRT |
|---|---|---|
| 2022 | -0.9% | -40.4% |
| 2023 | -7.6% | -89.2% |
| 2024 | +18.7% | -81.8% |
| 2025 | +1.6% | +69.1% |
| 2026 | +5.1% | -48.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FHB and TCRT good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FHB and TCRT?
The FHB/TCRT correlation stands at -0.21 on a 3-year window (1 year: -0.23, 5 years: -0.09), computed from weekly returns as of 2026-08-27.
Is TCRT a good diversifier for FHB?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
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/fhb-vs-tcrt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fhb-vs-tcrt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FHB correlations · TCRT correlations
