BQ vs MLTX: Correlation
Measured on weekly returns over the past three years, Boqii Holding Limited Class A (BQ) and MoonLake Immunotherapeutics - Class A (MLTX) carry a correlation of -0.55, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BQ and MLTX?
Over the past 3 years, BQ and MLTX moved with a correlation of -0.55, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.75) runs below the 3-year figure (-0.55). Over 5 years the correlation is -0.36, and the annualized covariance of weekly returns is -12143.7 %².
Out of 17 assets tracked against BQ, MLTX lands near the bottom at #17. The trailing year gives BQ the advantage: -66.9% versus -72.0%, a 5.1-point spread. Risk is not evenly split, since BQ carries 3.4 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.
BQ vs MLTX: side by side
| BQ (Boqii Holding Limited Class A) | MLTX (MoonLake Immunotherapeutics - Class A) | |
|---|---|---|
| 1-year return | -66.9% | -72.0% |
| 5-year return | -99.8% | +57.2% |
| Volatility (ann.) | 275.5% | 80.7% |
| Beta vs S&P 500 | 1.87 | 0.83 |
| Max drawdown (3Y) | -98.2% | -90.2% |
| Market cap | – | $1.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BQ | MLTX |
|---|---|---|
| 2022 | -77.1% | +6.2% |
| 2023 | -88.5% | +475.1% |
| 2024 | -22.1% | -10.3% |
| 2025 | -43.6% | -75.7% |
| 2026 | -54.7% | +17.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BQ and MLTX good diversifiers for each other?
Yes: at -0.55, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BQ and MLTX?
The BQ/MLTX correlation stands at -0.55 on a 3-year window (1 year: -0.75, 5 years: -0.36), computed from weekly returns as of 2026-08-27.
Is MLTX a good diversifier for BQ?
Yes: at -0.55, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.55 mean?
On the −1 to +1 scale, -0.55 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/bq-vs-mltx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bq-vs-mltx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BQ correlations · MLTX correlations
