ONCY vs PLGO: Correlation
How closely do Oncolytics Biotech Inc. (ONCY) and Pelagos Insurance Capital Limited (PLGO) trade together? Their weekly returns over three years give a correlation of -0.18, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ONCY and PLGO?
Over the past 3 years, ONCY and PLGO moved with a correlation of -0.18, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.24 over 1 year against -0.18 over 3. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -429.2 %².
Out of 10 assets tracked against ONCY, PLGO lands near the bottom at #8. The last year tells two different stories: PLGO led by 63.9 percentage points, -19.8% for ONCY against +44.1% for PLGO. One caveat on sizing: ONCY is 2.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ONCY vs PLGO: side by side
| ONCY (Oncolytics Biotech Inc.) | PLGO (Pelagos Insurance Capital Limited) | |
|---|---|---|
| 1-year return | -19.8% | +44.1% |
| 5-year return | -61.2% | n/a |
| Volatility (ann.) | 80.8% | 29.5% |
| Beta vs S&P 500 | 1.15 | 0.43 |
| Max drawdown (3Y) | -86.2% | -29.9% |
| Market cap | $0.1B | $2.1B |
| P/E (trailing) | – | 6.1 |
| Dividend yield | 0.00% | 2.45% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ONCY | PLGO |
|---|---|---|
| 2022 | +17.3% | – |
| 2023 | -17.2% | – |
| 2024 | -32.6% | +46.3% |
| 2025 | -4.4% | +9.4% |
| 2026 | -2.3% | +26.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ONCY and PLGO good diversifiers for each other?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ONCY and PLGO?
The ONCY/PLGO correlation stands at -0.18 on a 3-year window (1 year: -0.24, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is PLGO a good diversifier for ONCY?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.18 mean?
A reading of -0.18 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
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The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ONCY correlations · PLGO correlations
