TCRT vs WBD: Correlation
How closely do Alaunos Therapeutics, Inc. (TCRT) and Warner Bros. Discovery (WBD) trade together? Their weekly returns over three years give a correlation of -0.12, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TCRT and WBD?
Across a 3-year window, the weekly returns of TCRT and WBD correlate at -0.12, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.09) than the 3-year average (-0.12). Stretching to 5 years gives -0.07, with an annualized covariance of -808.1 %².
Among the 131 assets we track against TCRT, WBD ranks #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with WBD ahead by 149.9 points (-12.2% versus +137.7%). One caveat on sizing: TCRT is 2.2 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.
TCRT vs WBD: side by side
| TCRT (Alaunos Therapeutics, Inc.) | WBD (Warner Bros. Discovery) | |
|---|---|---|
| 1-year return | -12.2% | +137.7% |
| 5-year return | -99.3% | +3.7% |
| Volatility (ann.) | 121.9% | 54.7% |
| Beta vs S&P 500 | -1.11 | 1.19 |
| Max drawdown (3Y) | -95.0% | -48.9% |
| Market cap | – | $72.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Communication Services |
Year-by-year returns
| Year | TCRT | WBD |
|---|---|---|
| 2022 | -40.4% | -59.7% |
| 2023 | -89.2% | +20.0% |
| 2024 | -81.8% | -7.1% |
| 2025 | +69.1% | +172.7% |
| 2026 | -48.6% | +0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TCRT and WBD good diversifiers for each other?
Yes: at -0.12, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between TCRT and WBD?
As of 2026-08-27, the correlation of weekly returns between TCRT and WBD is -0.12 over 3 years, 0.09 over 1 year and -0.07 over 5 years.
Is WBD a good diversifier for TCRT?
Yes: at -0.12, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.12 mean?
On the −1 to +1 scale, -0.12 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
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Related comparisons
Hubs: TCRT correlations · WBD correlations
