DLTH vs MLYS: Correlation
How closely do Duluth Holdings Inc. (DLTH) and Mineralys Therapeutics, Inc. (MLYS) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DLTH and MLYS?
Across a 3-year window, the weekly returns of DLTH and MLYS correlate at 0.41, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.55 versus 0.41 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of 2683.1 %².
Within DLTH's tracked universe of 11 assets, MLYS comes in at #5 by 3-year correlation. On 12-month performance MLYS holds a 8.7-point edge, +62.3% against +71.0%.
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.
DLTH vs MLYS: side by side
| DLTH (Duluth Holdings Inc.) | MLYS (Mineralys Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +62.3% | +71.0% |
| 5-year return | -76.9% | n/a |
| Volatility (ann.) | 69.4% | 95.4% |
| Beta vs S&P 500 | 0.64 | 1.54 |
| Max drawdown (3Y) | -77.4% | -54.0% |
| Market cap | $0.1B | $2.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DLTH | MLYS |
|---|---|---|
| 2022 | -59.3% | – |
| 2023 | -12.9% | – |
| 2024 | -42.6% | +43.1% |
| 2025 | -32.7% | +194.8% |
| 2026 | +77.9% | -28.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DLTH and MLYS good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between DLTH and MLYS?
As of 2026-08-27, the correlation of weekly returns between DLTH and MLYS is 0.41 over 3 years, 0.55 over 1 year and n/a over 5 years.
Is MLYS a good diversifier for DLTH?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 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/dlth-vs-mlys.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dlth-vs-mlys/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DLTH correlations · MLYS correlations
