NDSN vs TCRT: Correlation
How closely do Nordson Corporation (NDSN) and Alaunos Therapeutics, Inc. (TCRT) trade together? Their weekly returns over three years give a correlation of -0.17, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NDSN and TCRT?
On 3 years of weekly data the NDSN/TCRT correlation comes out at -0.17, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.27) sits close to the 3-year figure. The 5-year figure is -0.06, and annualized covariance runs at -517.4 %².
TCRT is close to the least connected end of NDSN's tracked universe, ranking #35 of 39. Correlation aside, the last 12 months split them widely, with NDSN ahead by 60.7 points (+48.5% versus -12.2%). Note the risk asymmetry: TCRT runs 4.9 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.
NDSN vs TCRT: side by side
| NDSN (Nordson Corporation) | TCRT (Alaunos Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +48.5% | -12.2% |
| 5-year return | +46.5% | -99.3% |
| Volatility (ann.) | 24.7% | 121.9% |
| Beta vs S&P 500 | 0.97 | -1.11 |
| Max drawdown (3Y) | -39.1% | -95.0% |
| Market cap | $18.4B | – |
| P/E (trailing) | 33.5 | – |
| Dividend yield | 0.98% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | NDSN | TCRT |
|---|---|---|
| 2022 | -5.9% | -40.4% |
| 2023 | +12.4% | -89.2% |
| 2024 | -20.1% | -81.8% |
| 2025 | +17.0% | +69.1% |
| 2026 | +38.4% | -48.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NDSN and TCRT good diversifiers for each other?
Yes. With a correlation of -0.17, NDSN and TCRT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NDSN and TCRT?
As of 2026-08-27, the correlation of weekly returns between NDSN and TCRT is -0.17 over 3 years, -0.27 over 1 year and -0.06 over 5 years.
Is TCRT a good diversifier for NDSN?
Yes. With a correlation of -0.17, NDSN and TCRT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.17 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/ndsn-vs-tcrt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ndsn-vs-tcrt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NDSN correlations · TCRT correlations
