GJO vs RLAY: Correlation
Synthetic Fixed-Income Securities, Inc. on behalf of (GJO) and Relay Therapeutics, Inc. (RLAY) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GJO and RLAY?
Across a 3-year window, the weekly returns of GJO and RLAY correlate at -0.22, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.14) sits close to the 3-year figure. Stretching to 5 years gives -0.09, with an annualized covariance of -107.9 %².
RLAY is close to the least connected end of GJO's tracked universe, ranking #15 of 16. The last year tells two different stories: RLAY led by 441.4 percentage points, +2.6% for GJO against +444.0% for RLAY. Risk is not evenly split, since RLAY carries 10.3 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.
GJO vs RLAY: side by side
| GJO (Synthetic Fixed-Income Securities, Inc. on behalf of) | RLAY (Relay Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +2.6% | +444.0% |
| 5-year return | +27.3% | -35.3% |
| Volatility (ann.) | 6.9% | 71.3% |
| Beta vs S&P 500 | 0.02 | 2.17 |
| Max drawdown (3Y) | -3.2% | -83.4% |
| Market cap | – | $4.3B |
| P/E (trailing) | – | – |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GJO | RLAY |
|---|---|---|
| 2022 | +1.6% | -51.4% |
| 2023 | +10.3% | -26.3% |
| 2024 | +5.2% | -62.6% |
| 2025 | +5.6% | +105.3% |
| 2026 | +1.4% | +129.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GJO and RLAY good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between GJO and RLAY?
The GJO/RLAY correlation stands at -0.22 on a 3-year window (1 year: -0.14, 5 years: -0.09), computed from weekly returns as of 2026-08-27.
Is RLAY a good diversifier for GJO?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
A reading of -0.22 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: GJO correlations · RLAY correlations
