RENT vs RNAC: Correlation
How closely do Rent the Runway, Inc. (RENT) and Cartesian Therapeutics, Inc. (RNAC) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RENT and RNAC?
On 3 years of weekly data the RENT/RNAC correlation comes out at 0.39, moderate. The relationship has been stable: the 1-year correlation (0.34) sits close to the 3-year figure. The 5-year figure is 0.34, and annualized covariance runs at 9004.1 %².
Among the 18 assets we track against RENT, RNAC ranks #6 by 3-year correlation. The last year tells two different stories: RNAC led by 29.6 percentage points, -35.8% for RENT against -6.2% for RNAC. One caveat on sizing: RENT is 2.0 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.
RENT vs RNAC: side by side
| RENT (Rent the Runway, Inc.) | RNAC (Cartesian Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -35.8% | -6.2% |
| 5-year return | -99.1% | -92.3% |
| Volatility (ann.) | 212.1% | 108.2% |
| Beta vs S&P 500 | 2.17 | 2.21 |
| Max drawdown (3Y) | -91.6% | -85.6% |
| Market cap | $0.1B | $0.3B |
| P/E (trailing) | 0.5 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RENT | RNAC |
|---|---|---|
| 2022 | -62.6% | -65.3% |
| 2023 | -82.7% | -39.0% |
| 2024 | -19.5% | -13.4% |
| 2025 | -6.9% | -59.7% |
| 2026 | -54.4% | +38.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RENT and RNAC good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between RENT and RNAC?
The RENT/RNAC correlation stands at 0.39 on a 3-year window (1 year: 0.34, 5 years: 0.34), computed from weekly returns as of 2026-08-27.
Is RNAC a good diversifier for RENT?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 mean?
A reading of 0.39 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
$ curl https://www.pairbook.io/api/v1/pairs/rent-vs-rnac.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/rent-vs-rnac/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: RENT correlations · RNAC correlations
