ATYR vs MGTX: Correlation
How closely do aTyr Pharma, Inc. (ATYR) and MeiraGTx Holdings plc (MGTX) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATYR and MGTX?
Over the past 3 years, ATYR and MGTX moved with a correlation of 0.38, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.23 versus 0.38 over 3 years. Over 5 years the correlation is 0.34, and the annualized covariance of weekly returns is 2760.0 %².
Among the 10 assets we track against ATYR, MGTX ranks #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MGTX ahead by 179.4 points (-89.3% versus +90.1%).
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.
ATYR vs MGTX: side by side
| ATYR (aTyr Pharma, Inc.) | MGTX (MeiraGTx Holdings plc) | |
|---|---|---|
| 1-year return | -89.3% | +90.1% |
| 5-year return | -89.9% | +2.2% |
| Volatility (ann.) | 94.3% | 77.0% |
| Beta vs S&P 500 | 1.25 | 2.02 |
| Max drawdown (3Y) | -94.0% | -47.1% |
| Market cap | $0.1B | $1.4B |
| P/E (trailing) | – | 16.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ATYR | MGTX |
|---|---|---|
| 2022 | -70.7% | -72.5% |
| 2023 | -35.6% | +7.7% |
| 2024 | +156.7% | -13.2% |
| 2025 | -78.4% | +30.5% |
| 2026 | -29.2% | +77.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATYR and MGTX good diversifiers for each other?
Reasonably. At 0.38, ATYR and MGTX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ATYR and MGTX?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.23 over the last year and 0.34 over 5 years.
Is MGTX a good diversifier for ATYR?
Reasonably. At 0.38, ATYR and MGTX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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.
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Related comparisons
Hubs: ATYR correlations · MGTX correlations
