CRNX vs MDAI: Correlation
How closely do Crinetics Pharmaceuticals, Inc. (CRNX) and Spectral AI, Inc. (MDAI) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRNX and MDAI?
Across a 3-year window, the weekly returns of CRNX and MDAI correlate at -0.21, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.10) runs above the 3-year figure (-0.21). Stretching to 5 years gives -0.19, with an annualized covariance of -2041.0 %².
MDAI is close to the least connected end of CRNX's tracked universe, ranking #10 of 12. Their recent paths diverged sharply: over the last 12 months CRNX outperformed by 201.5 percentage points (+179.1% for CRNX against -22.4% for MDAI).
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.
CRNX vs MDAI: side by side
| CRNX (Crinetics Pharmaceuticals, Inc.) | MDAI (Spectral AI, Inc.) | |
|---|---|---|
| 1-year return | +179.1% | -22.4% |
| 5-year return | +269.7% | -83.2% |
| Volatility (ann.) | 91.7% | 105.0% |
| Beta vs S&P 500 | 1.58 | 1.03 |
| Max drawdown (3Y) | -57.9% | -93.5% |
| Market cap | $9.0B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRNX | MDAI |
|---|---|---|
| 2022 | -35.6% | +3.0% |
| 2023 | +94.4% | -75.6% |
| 2024 | +43.7% | +15.0% |
| 2025 | -9.0% | -49.8% |
| 2026 | +82.3% | +14.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRNX and MDAI good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CRNX and MDAI?
The CRNX/MDAI correlation stands at -0.21 on a 3-year window (1 year: -0.10, 5 years: -0.19), computed from weekly returns as of 2026-08-27.
Is MDAI a good diversifier for CRNX?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 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/crnx-vs-mdai.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/crnx-vs-mdai/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CRNX correlations · MDAI correlations
