CODA vs MRX: Correlation
How closely do Coda Octopus Group, Inc. (CODA) and Marex Group Limited (MRX) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CODA and MRX?
Over the past 3 years, CODA and MRX moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.24) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -297.8 %².
Out of 10 assets tracked against CODA, MRX lands near the bottom at #8. Correlation aside, the last 12 months split them widely, with MRX ahead by 63.6 points (+36.0% versus +99.6%).
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.
CODA vs MRX: side by side
| CODA (Coda Octopus Group, Inc.) | MRX (Marex Group Limited) | |
|---|---|---|
| 1-year return | +36.0% | +99.6% |
| 5-year return | +13.9% | n/a |
| Volatility (ann.) | 42.9% | 39.3% |
| Beta vs S&P 500 | 0.67 | 0.44 |
| Max drawdown (3Y) | -44.9% | -41.1% |
| Market cap | $0.1B | – |
| P/E (trailing) | 23.2 | 14.6 |
| Dividend yield | 0.00% | 1.04% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CODA | MRX |
|---|---|---|
| 2022 | -14.2% | – |
| 2023 | -12.2% | – |
| 2024 | +30.1% | – |
| 2025 | +18.8% | +25.1% |
| 2026 | +12.2% | +87.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CODA and MRX good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CODA and MRX?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.24 over the last year and n/a over 5 years.
Is MRX a good diversifier for CODA?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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/coda-vs-mrx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/coda-vs-mrx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CODA correlations · MRX correlations
