CMTL vs MBIO: Correlation
Measured on weekly returns over the past three years, Comtech Telecommunications Corp. (CMTL) and Mustang Bio, Inc. (MBIO) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMTL and MBIO?
Over the past 3 years, CMTL and MBIO moved with a correlation of 0.47, which is moderate. The link has loosened recently: the 1-year correlation (0.17) runs below the 3-year figure (0.47). Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 10519.4 %².
In CMTL's tracked universe of 11 assets, MBIO sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months CMTL outperformed by 50.6 percentage points (-13.4% for CMTL against -64.0% for MBIO). One caveat on sizing: MBIO is 2.2 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.
CMTL vs MBIO: side by side
| CMTL (Comtech Telecommunications Corp.) | MBIO (Mustang Bio, Inc.) | |
|---|---|---|
| 1-year return | -13.4% | -64.0% |
| 5-year return | -92.9% | -100.0% |
| Volatility (ann.) | 100.4% | 222.7% |
| Beta vs S&P 500 | 1.44 | 1.27 |
| Max drawdown (3Y) | -90.2% | -99.7% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CMTL | MBIO |
|---|---|---|
| 2022 | -47.1% | -76.2% |
| 2023 | -30.0% | -77.2% |
| 2024 | -52.4% | -86.9% |
| 2025 | +31.9% | -88.9% |
| 2026 | -66.9% | -43.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMTL and MBIO good diversifiers for each other?
Reasonably. At 0.47, CMTL and MBIO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CMTL and MBIO?
As of 2026-08-27, the correlation of weekly returns between CMTL and MBIO is 0.47 over 3 years, 0.17 over 1 year and 0.43 over 5 years.
Is MBIO a good diversifier for CMTL?
Reasonably. At 0.47, CMTL and MBIO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 mean?
On the −1 to +1 scale, 0.47 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/cmtl-vs-mbio.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cmtl-vs-mbio/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CMTL correlations · MBIO correlations
