BMY vs MIRA: Correlation
Bristol Myers Squibb (BMY) and MIRA Pharmaceuticals, Inc. (MIRA) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BMY and MIRA?
Across a 3-year window, the weekly returns of BMY and MIRA correlate at 0.38, moderate. The link has loosened recently: the 1-year correlation (0.18) runs below the 3-year figure (0.38). Stretching to 5 years gives n/a, with an annualized covariance of 2214.7 %².
By 3-year correlation, MIRA places #17 of the 31 assets tracked against BMY. Correlation aside, the last 12 months split them widely, with BMY ahead by 91.1 points (+47.3% versus -43.8%). Risk is not evenly split, since MIRA carries 7.6 times the volatility of the other side.
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.
BMY vs MIRA: side by side
| BMY (Bristol Myers Squibb) | MIRA (MIRA Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | +47.3% | -43.8% |
| 5-year return | +22.3% | n/a |
| Volatility (ann.) | 27.8% | 211.2% |
| Beta vs S&P 500 | 0.20 | -0.07 |
| Max drawdown (3Y) | -34.1% | -91.5% |
| Market cap | $136.8B | – |
| P/E (trailing) | 14.9 | – |
| Dividend yield | 3.71% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | BMY | MIRA |
|---|---|---|
| 2022 | +19.0% | – |
| 2023 | -26.1% | – |
| 2024 | +15.8% | +8.6% |
| 2025 | +0.1% | +32.5% |
| 2026 | +28.3% | -49.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BMY and MIRA good diversifiers for each other?
Reasonably. At 0.38, BMY and MIRA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BMY and MIRA?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.18 over the last year and n/a over 5 years.
Is MIRA a good diversifier for BMY?
Reasonably. At 0.38, BMY and MIRA 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: BMY correlations · MIRA correlations
