CMND vs DMRA: Correlation
Measured on weekly returns over the past three years, Clearmind Medicine Inc. (CMND) and Damora Therapeutics, Inc. (DMRA) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMND and DMRA?
On 3 years of weekly data the CMND/DMRA correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.29 over 1 year against -0.23 over 3. The 5-year figure is -0.18, and annualized covariance runs at -8406.9 %².
DMRA is close to the least connected end of CMND's tracked universe, ranking #8 of 10. Their recent paths diverged sharply: over the last 12 months DMRA outperformed by 910.3 percentage points (-99.6% for CMND against +810.7% for DMRA). One caveat on sizing: DMRA is 2.5 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.
CMND vs DMRA: side by side
| CMND (Clearmind Medicine Inc.) | DMRA (Damora Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -99.6% | +810.7% |
| 5-year return | n/a | -72.2% |
| Volatility (ann.) | 122.3% | 304.9% |
| Beta vs S&P 500 | 1.24 | 0.22 |
| Max drawdown (3Y) | -100.0% | -90.0% |
| Market cap | – | $1.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CMND | DMRA |
|---|---|---|
| 2022 | – | -62.0% |
| 2023 | -97.0% | -37.4% |
| 2024 | -50.9% | -74.2% |
| 2025 | -96.7% | +394.8% |
| 2026 | -90.0% | +33.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMND and DMRA good diversifiers for each other?
Yes. With a correlation of -0.23, CMND and DMRA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CMND and DMRA?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.29 over the last year and -0.18 over 5 years.
Is DMRA a good diversifier for CMND?
Yes. With a correlation of -0.23, CMND and DMRA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/cmnd-vs-dmra.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cmnd-vs-dmra/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CMND correlations · DMRA correlations
