IBCP vs TCRT: Correlation
Measured on weekly returns over the past three years, Independent Bank Corporation (IBCP) and Alaunos Therapeutics, Inc. (TCRT) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBCP and TCRT?
On 3 years of weekly data the IBCP/TCRT correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.03) than the 3-year average (-0.20). The 5-year figure is -0.13, and annualized covariance runs at -692.1 %².
Among the 15 assets we track against IBCP, TCRT sits near the bottom by co-movement, at rank #13. Their recent paths diverged sharply: over the last 12 months IBCP outperformed by 25.9 percentage points (+13.7% for IBCP against -12.2% for TCRT). Risk is not evenly split, since TCRT carries 4.2 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.
IBCP vs TCRT: side by side
| IBCP (Independent Bank Corporation) | TCRT (Alaunos Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +13.7% | -12.2% |
| 5-year return | +112.7% | -99.3% |
| Volatility (ann.) | 28.7% | 121.9% |
| Beta vs S&P 500 | 0.77 | -1.11 |
| Max drawdown (3Y) | -27.5% | -95.0% |
| Market cap | $0.8B | – |
| P/E (trailing) | 10.6 | – |
| Dividend yield | 2.94% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IBCP | TCRT |
|---|---|---|
| 2022 | +4.3% | -40.4% |
| 2023 | +14.0% | -89.2% |
| 2024 | +38.5% | -81.8% |
| 2025 | -3.5% | +69.1% |
| 2026 | +15.3% | -48.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBCP and TCRT good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between IBCP and TCRT?
The IBCP/TCRT correlation stands at -0.20 on a 3-year window (1 year: -0.03, 5 years: -0.13), computed from weekly returns as of 2026-08-27.
Is TCRT a good diversifier for IBCP?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 mean?
A reading of -0.20 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ibcp-vs-tcrt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ibcp-vs-tcrt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IBCP correlations · TCRT correlations
