BRLS vs MRNA: Correlation
Borealis Foods Inc. - Class A (BRLS) and Moderna (MRNA) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BRLS and MRNA?
On 3 years of weekly data the BRLS/MRNA correlation comes out at 0.36, moderate. Little has changed lately, as the 1-year reading of 0.43 lands near the 3-year figure. The 5-year figure is 0.32, and annualized covariance runs at 5815.6 %².
By 3-year correlation, MRNA places #5 of the 21 assets tracked against BRLS. The last year tells two different stories: MRNA led by 530.5 percentage points, -61.7% for BRLS against +468.8% for MRNA. Risk is not evenly split, since BRLS carries 1.6 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.
BRLS vs MRNA: side by side
| BRLS (Borealis Foods Inc. - Class A) | MRNA (Moderna) | |
|---|---|---|
| 1-year return | -61.7% | +468.8% |
| 5-year return | -88.7% | -61.5% |
| Volatility (ann.) | 160.0% | 100.7% |
| Beta vs S&P 500 | -0.09 | 0.98 |
| Max drawdown (3Y) | -94.8% | -86.6% |
| Market cap | – | $57.0B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | BRLS | MRNA |
|---|---|---|
| 2022 | +4.6% | -29.3% |
| 2023 | +9.5% | -44.6% |
| 2024 | -47.3% | -58.2% |
| 2025 | -66.5% | -29.1% |
| 2026 | -44.5% | +384.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BRLS and MRNA good diversifiers for each other?
Reasonably. At 0.36, BRLS and MRNA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BRLS and MRNA?
As of 2026-08-27, the correlation of weekly returns between BRLS and MRNA is 0.36 over 3 years, 0.43 over 1 year and 0.32 over 5 years.
Is MRNA a good diversifier for BRLS?
Reasonably. At 0.36, BRLS and MRNA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 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/brls-vs-mrna.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/brls-vs-mrna/)
No key needed, free to use. Full endpoint list in the API documentation.
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Hubs: BRLS correlations · MRNA correlations
