KALA vs TCBX: Correlation
How closely do KALA BIO, Inc. (KALA) and Third Coast Bancshares, Inc. (TCBX) trade together? Their weekly returns over three years give a correlation of 0.34, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KALA and TCBX?
Across a 3-year window, the weekly returns of KALA and TCBX correlate at 0.34, moderate. The past 12 months show a weaker link (0.21) than the 3-year average (0.34). Stretching to 5 years gives 0.05, with an annualized covariance of 1278.9 %².
In KALA's tracked universe of 11 assets, TCBX sits right near the top at #2. The last year tells two different stories: TCBX led by 112.6 percentage points, -99.8% for KALA against +12.8% for TCBX. Risk is not evenly split, since KALA carries 3.8 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.
KALA vs TCBX: side by side
| KALA (KALA BIO, Inc.) | TCBX (Third Coast Bancshares, Inc.) | |
|---|---|---|
| 1-year return | -99.8% | +12.8% |
| 5-year return | -100.0% | +80.3% |
| Volatility (ann.) | 119.6% | 31.7% |
| Beta vs S&P 500 | 1.73 | 0.88 |
| Max drawdown (3Y) | -99.9% | -28.9% |
| Market cap | – | $0.8B |
| P/E (trailing) | – | 11.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KALA | TCBX |
|---|---|---|
| 2022 | -36.9% | -29.1% |
| 2023 | -81.7% | +7.8% |
| 2024 | -0.9% | +70.9% |
| 2025 | -92.0% | +12.0% |
| 2026 | -97.1% | +18.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KALA and TCBX good diversifiers for each other?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between KALA and TCBX?
The KALA/TCBX correlation stands at 0.34 on a 3-year window (1 year: 0.21, 5 years: 0.05), computed from weekly returns as of 2026-08-27.
Is TCBX a good diversifier for KALA?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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.
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Related comparisons
Hubs: KALA correlations · TCBX correlations
