DTM vs MRNA: Correlation
Measured on weekly returns over the past three years, DT Midstream, Inc. (DTM) and Moderna (MRNA) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DTM and MRNA?
Over the past 3 years, DTM and MRNA moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.40) runs below the 3-year figure (-0.22). Over 5 years the correlation is -0.16, and the annualized covariance of weekly returns is -525.4 %².
MRNA is close to the least connected end of DTM's tracked universe, ranking #14 of 17. Their recent paths diverged sharply: over the last 12 months MRNA outperformed by 435.9 percentage points (+32.9% for DTM against +468.8% for MRNA). One caveat on sizing: MRNA is 4.2 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.
DTM vs MRNA: side by side
| DTM (DT Midstream, Inc.) | MRNA (Moderna) | |
|---|---|---|
| 1-year return | +32.9% | +468.8% |
| 5-year return | +248.3% | -61.5% |
| Volatility (ann.) | 23.9% | 100.7% |
| Beta vs S&P 500 | 0.42 | 0.98 |
| Max drawdown (3Y) | -23.6% | -86.6% |
| Market cap | $13.4B | $57.0B |
| P/E (trailing) | 29.1 | – |
| Dividend yield | 2.57% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | DTM | MRNA |
|---|---|---|
| 2022 | +20.7% | -29.3% |
| 2023 | +4.7% | -44.6% |
| 2024 | +88.9% | -58.2% |
| 2025 | +24.1% | -29.1% |
| 2026 | +11.4% | +384.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DTM and MRNA good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between DTM and MRNA?
The DTM/MRNA correlation stands at -0.22 on a 3-year window (1 year: -0.40, 5 years: -0.16), computed from weekly returns as of 2026-08-27.
Is MRNA a good diversifier for DTM?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
A reading of -0.22 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dtm-vs-mrna.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dtm-vs-mrna/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DTM correlations · MRNA correlations
