BAND vs MRDN: Correlation
Measured on weekly returns over the past three years, Bandwidth Inc. (BAND) and Meridian Holdings Inc. (MRDN) carry a correlation of 0.35, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BAND and MRDN?
On 3 years of weekly data the BAND/MRDN correlation comes out at 0.35, moderate. The link has tightened recently: the 1-year correlation (0.57) runs above the 3-year figure (0.35). The 5-year figure is 0.26, and annualized covariance runs at 2924.3 %².
Within BAND's tracked universe of 15 assets, MRDN comes in at #10 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months BAND outperformed by 258.8 percentage points (+249.2% for BAND against -9.6% for MRDN).
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.
BAND vs MRDN: side by side
| BAND (Bandwidth Inc.) | MRDN (Meridian Holdings Inc.) | |
|---|---|---|
| 1-year return | +249.2% | -9.6% |
| 5-year return | -50.5% | -82.1% |
| Volatility (ann.) | 93.1% | 89.9% |
| Beta vs S&P 500 | 1.91 | 0.53 |
| Max drawdown (3Y) | -52.9% | -91.7% |
| Market cap | $1.7B | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BAND | MRDN |
|---|---|---|
| 2022 | -68.0% | -60.4% |
| 2023 | -36.9% | -5.1% |
| 2024 | +17.6% | -17.8% |
| 2025 | -9.2% | -59.5% |
| 2026 | +235.6% | +45.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAND and MRDN good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BAND and MRDN?
Using weekly returns as of 2026-08-27: 0.35 over 3 years, with 0.57 over the last year and 0.26 over 5 years.
Is MRDN a good diversifier for BAND?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 mean?
On the −1 to +1 scale, 0.35 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
$ curl https://www.pairbook.io/api/v1/pairs/band-vs-mrdn.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/band-vs-mrdn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BAND correlations · MRDN correlations
