PARA vs WHWK: Correlation
Measured on weekly returns over the past three years, Banzai International, Inc. (PARA) and Whitehawk Therapeutics, Inc. (WHWK) carry a correlation of 0.27, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PARA and WHWK?
Over the past 3 years, PARA and WHWK moved with a correlation of 0.27, which is weak. The relationship has been stable: the 1-year correlation (0.30) sits close to the 3-year figure. Over 5 years the correlation is 0.20, and the annualized covariance of weekly returns is 2175.6 %².
Few assets follow PARA as closely as WHWK, which ranks #2 of 20 tracked partners. The last year tells two different stories: WHWK led by 267.3 percentage points, -98.2% for PARA against +169.1% for WHWK. One caveat on sizing: PARA is 1.7 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.
PARA vs WHWK: side by side
| PARA (Banzai International, Inc.) | WHWK (Whitehawk Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -98.2% | +169.1% |
| 5-year return | -100.0% | -80.9% |
| Volatility (ann.) | 114.5% | 69.1% |
| Beta vs S&P 500 | -0.02 | 1.03 |
| Max drawdown (3Y) | -100.0% | -80.6% |
| Market cap | – | $0.3B |
| P/E (trailing) | 0.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PARA | WHWK |
|---|---|---|
| 2022 | +3.7% | -46.9% |
| 2023 | -81.4% | -84.3% |
| 2024 | -98.4% | +56.2% |
| 2025 | -93.7% | -23.3% |
| 2026 | -93.8% | +101.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PARA and WHWK good diversifiers for each other?
Reasonably. At 0.27, PARA and WHWK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between PARA and WHWK?
The PARA/WHWK correlation stands at 0.27 on a 3-year window (1 year: 0.30, 5 years: 0.20), computed from weekly returns as of 2026-08-27.
Is WHWK a good diversifier for PARA?
Reasonably. At 0.27, PARA and WHWK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.27 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.
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Related comparisons
Hubs: PARA correlations · WHWK correlations
