RLAY vs XNCR: Correlation
How closely do Relay Therapeutics, Inc. (RLAY) and Xencor, Inc. (XNCR) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RLAY and XNCR?
Over the past 3 years, RLAY and XNCR moved with a correlation of 0.58, which is moderate. The past 12 months show a weaker link (0.44) than the 3-year average (0.58). Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 2497.2 %².
Within RLAY's tracked universe of 16 assets, XNCR comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with RLAY ahead by 183.9 points (+444.0% versus +260.1%).
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.
RLAY vs XNCR: side by side
| RLAY (Relay Therapeutics, Inc.) | XNCR (Xencor, Inc.) | |
|---|---|---|
| 1-year return | +444.0% | +260.1% |
| 5-year return | -35.3% | -14.8% |
| Volatility (ann.) | 71.3% | 60.9% |
| Beta vs S&P 500 | 2.17 | 1.37 |
| Max drawdown (3Y) | -83.4% | -73.9% |
| Market cap | $4.3B | $2.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RLAY | XNCR |
|---|---|---|
| 2022 | -51.4% | -35.1% |
| 2023 | -26.3% | -18.5% |
| 2024 | -62.6% | +8.2% |
| 2025 | +105.3% | -33.4% |
| 2026 | +129.6% | +88.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RLAY and XNCR good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between RLAY and XNCR?
Using weekly returns as of 2026-08-27: 0.58 over 3 years, with 0.44 over the last year and 0.51 over 5 years.
Is XNCR a good diversifier for RLAY?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 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: RLAY correlations · XNCR correlations
