CABA vs MF: Correlation
Cabaletta Bio, Inc. (CABA) and MindForge Inc. - Class A (MF) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CABA and MF?
Across a 3-year window, the weekly returns of CABA and MF correlate at 0.48, moderate. The past 12 months show a weaker link (-0.07) than the 3-year average (0.48). Stretching to 5 years gives n/a, with an annualized covariance of 53465.8 %².
Within CABA's tracked universe of 14 assets, MF comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CABA ahead by 196.9 points (+125.3% versus -71.6%). One caveat on sizing: MF is 6.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CABA vs MF: side by side
| CABA (Cabaletta Bio, Inc.) | MF (MindForge Inc. - Class A) | |
|---|---|---|
| 1-year return | +125.3% | -71.6% |
| 5-year return | -66.5% | n/a |
| Volatility (ann.) | 125.4% | 830.3% |
| Beta vs S&P 500 | 3.70 | 3.38 |
| Max drawdown (3Y) | -95.9% | -99.7% |
| Market cap | $0.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CABA | MF |
|---|---|---|
| 2022 | +144.1% | – |
| 2023 | +145.4% | – |
| 2024 | -90.0% | – |
| 2025 | -3.5% | -40.7% |
| 2026 | +54.3% | -62.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CABA and MF good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CABA and MF?
The CABA/MF correlation stands at 0.48 on a 3-year window (1 year: -0.07, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is MF a good diversifier for CABA?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 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/caba-vs-mf.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/caba-vs-mf/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CABA correlations · MF correlations
