HCWB vs SNAL: Correlation
Measured on weekly returns over the past three years, HCW Biologics Inc. (HCWB) and Snail, Inc. (SNAL) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HCWB and SNAL?
Across a 3-year window, the weekly returns of HCWB and SNAL correlate at 0.39, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.61 versus 0.39 over 3 years. Stretching to 5 years gives 0.38, with an annualized covariance of 13579.0 %².
Within HCWB's tracked universe of 17 assets, SNAL comes in at #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SNAL ahead by 56.0 points (-91.2% versus -35.2%). Note the risk asymmetry: HCWB runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
HCWB vs SNAL: side by side
| HCWB (HCW Biologics Inc.) | SNAL (Snail, Inc.) | |
|---|---|---|
| 1-year return | -91.2% | -35.2% |
| 5-year return | -99.7% | n/a |
| Volatility (ann.) | 238.8% | 146.7% |
| Beta vs S&P 500 | 1.21 | 2.22 |
| Max drawdown (3Y) | -99.7% | -88.0% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HCWB | SNAL |
|---|---|---|
| 2022 | -17.5% | – |
| 2023 | -36.0% | -17.7% |
| 2024 | -63.6% | +53.7% |
| 2025 | -94.6% | -52.2% |
| 2026 | -45.6% | -33.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HCWB and SNAL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HCWB and SNAL?
Using weekly returns as of 2026-08-27: 0.39 over 3 years, with 0.61 over the last year and 0.38 over 5 years.
Is SNAL a good diversifier for HCWB?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.39 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.
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Related comparisons
Hubs: HCWB correlations · SNAL correlations
