KLRS vs RAY: Correlation
Kalaris Therapeutics, Inc. (KLRS) and Raytech Holding Limited (RAY) show a negative relationship: their 3-year correlation of weekly returns is -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KLRS and RAY?
Across a 3-year window, the weekly returns of KLRS and RAY correlate at -0.26, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.18) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -3628.3 %².
Among the 15 assets we track against KLRS, RAY sits near the bottom by co-movement, at rank #13. Correlation aside, the last 12 months split them widely, with KLRS ahead by 117.1 points (+33.1% versus -84.0%).
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.
KLRS vs RAY: side by side
| KLRS (Kalaris Therapeutics, Inc.) | RAY (Raytech Holding Limited) | |
|---|---|---|
| 1-year return | +33.1% | -84.0% |
| 5-year return | -99.1% | n/a |
| Volatility (ann.) | 98.7% | 146.1% |
| Beta vs S&P 500 | 1.33 | 0.37 |
| Max drawdown (3Y) | -97.0% | -97.7% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | 3.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KLRS | RAY |
|---|---|---|
| 2022 | -60.4% | – |
| 2023 | -86.7% | – |
| 2024 | -38.2% | – |
| 2025 | -12.6% | -90.5% |
| 2026 | -51.4% | +36.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KLRS and RAY good diversifiers for each other?
Yes. With a correlation of -0.26, KLRS and RAY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between KLRS and RAY?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.18 over the last year and n/a over 5 years.
Is RAY a good diversifier for KLRS?
Yes. With a correlation of -0.26, KLRS and RAY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 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/klrs-vs-ray.json
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[](https://www.pairbook.io/pair/klrs-vs-ray/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: KLRS correlations · RAY correlations
