FRA vs TCRT: Correlation
Measured on weekly returns over the past three years, Blackrock Floating Rate Income Strategies Fund Inc (FRA) and Alaunos Therapeutics, Inc. (TCRT) carry a correlation of -0.33, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRA and TCRT?
Across a 3-year window, the weekly returns of FRA and TCRT correlate at -0.33, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.09) runs above the 3-year figure (-0.33). Stretching to 5 years gives -0.12, with an annualized covariance of -463.7 %².
TCRT is close to the least connected end of FRA's tracked universe, ranking #11 of 14. Over the last 12 months FRA came out ahead by 5.7 percentage points (-6.5% against -12.2%). One caveat on sizing: TCRT is 10.5 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.
FRA vs TCRT: side by side
| FRA (Blackrock Floating Rate Income Strategies Fund Inc) | TCRT (Alaunos Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -6.5% | -12.2% |
| 5-year return | +37.4% | -99.3% |
| Volatility (ann.) | 11.6% | 121.9% |
| Beta vs S&P 500 | 0.44 | -1.11 |
| Max drawdown (3Y) | -18.8% | -95.0% |
| Market cap | – | – |
| P/E (trailing) | 15.6 | – |
| Dividend yield | 13.61% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FRA | TCRT |
|---|---|---|
| 2022 | -10.6% | -40.4% |
| 2023 | +25.5% | -89.2% |
| 2024 | +21.6% | -81.8% |
| 2025 | -3.7% | +69.1% |
| 2026 | +1.5% | -48.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRA and TCRT good diversifiers for each other?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
FAQ
What is the correlation between FRA and TCRT?
As of 2026-08-27, the correlation of weekly returns between FRA and TCRT is -0.33 over 3 years, -0.09 over 1 year and -0.12 over 5 years.
Is TCRT a good diversifier for FRA?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
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/fra-vs-tcrt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fra-vs-tcrt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FRA correlations · TCRT correlations
