CLDI vs MTG: Correlation
Measured on weekly returns over the past three years, Calidi Biotherapeutics, Inc. (CLDI) and MGIC Investment Corporation (MTG) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLDI and MTG?
Over the past 3 years, CLDI and MTG moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.05) than the 3-year average (-0.24). Over 5 years the correlation is -0.17, and the annualized covariance of weekly returns is -951.8 %².
Out of 14 assets tracked against CLDI, MTG lands near the bottom at #13. Their recent paths diverged sharply: over the last 12 months MTG outperformed by 108.6 percentage points (-95.1% for CLDI against +13.5% for MTG). One caveat on sizing: CLDI is 8.5 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.
CLDI vs MTG: side by side
| CLDI (Calidi Biotherapeutics, Inc.) | MTG (MGIC Investment Corporation) | |
|---|---|---|
| 1-year return | -95.1% | +13.5% |
| 5-year return | -100.0% | +129.5% |
| Volatility (ann.) | 182.9% | 21.6% |
| Beta vs S&P 500 | 1.03 | 0.57 |
| Max drawdown (3Y) | -100.0% | -15.8% |
| Market cap | – | $6.4B |
| P/E (trailing) | – | 9.8 |
| Dividend yield | 0.00% | 1.92% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLDI | MTG |
|---|---|---|
| 2022 | +3.7% | -7.5% |
| 2023 | -85.2% | +52.4% |
| 2024 | -92.4% | +25.7% |
| 2025 | -91.5% | +25.9% |
| 2026 | -93.1% | +8.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLDI and MTG good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between CLDI and MTG?
As of 2026-08-27, the correlation of weekly returns between CLDI and MTG is -0.24 over 3 years, 0.05 over 1 year and -0.17 over 5 years.
Is MTG a good diversifier for CLDI?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
A reading of -0.24 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cldi-vs-mtg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cldi-vs-mtg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CLDI correlations · MTG correlations
