BEAM vs MGTX: Correlation
How closely do Beam Therapeutics Inc. (BEAM) and MeiraGTx Holdings plc (MGTX) trade together? Their weekly returns over three years give a correlation of 0.50, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BEAM and MGTX?
Across a 3-year window, the weekly returns of BEAM and MGTX correlate at 0.50, moderate. Little has changed lately, as the 1-year reading of 0.55 lands near the 3-year figure. Stretching to 5 years gives 0.46, with an annualized covariance of 2773.1 %².
Within BEAM's tracked universe of 20 assets, MGTX comes in at #8 by 3-year correlation. Over the last 12 months MGTX came out ahead by 9.3 percentage points (+80.8% against +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.
BEAM vs MGTX: side by side
| BEAM (Beam Therapeutics Inc.) | MGTX (MeiraGTx Holdings plc) | |
|---|---|---|
| 1-year return | +80.8% | +90.1% |
| 5-year return | -71.5% | +2.2% |
| Volatility (ann.) | 72.6% | 77.0% |
| Beta vs S&P 500 | 2.39 | 2.02 |
| Max drawdown (3Y) | -67.7% | -47.1% |
| Market cap | $3.1B | $1.4B |
| P/E (trailing) | – | 16.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BEAM | MGTX |
|---|---|---|
| 2022 | -50.9% | -72.5% |
| 2023 | -30.4% | +7.7% |
| 2024 | -8.9% | -13.2% |
| 2025 | +11.8% | +30.5% |
| 2026 | +10.0% | +77.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BEAM and MGTX good diversifiers for each other?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BEAM and MGTX?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.55 over the last year and 0.46 over 5 years.
Is MGTX a good diversifier for BEAM?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.50 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/beam-vs-mgtx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/beam-vs-mgtx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BEAM correlations · MGTX correlations
