DXCM vs MIRA: Correlation
Measured on weekly returns over the past three years, Dexcom (DXCM) and MIRA Pharmaceuticals, Inc. (MIRA) carry a correlation of -0.36, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DXCM and MIRA?
Across a 3-year window, the weekly returns of DXCM and MIRA correlate at -0.36, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.08) than the 3-year average (-0.36). Stretching to 5 years gives n/a, with an annualized covariance of -3568.0 %².
Among the 28 assets we track against DXCM, MIRA sits near the bottom by co-movement, at rank #27. The last year tells two different stories: DXCM led by 60.7 percentage points, +16.9% for DXCM against -43.8% for MIRA. Risk is not evenly split, since MIRA carries 4.5 times the volatility of the other side.
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.
DXCM vs MIRA: side by side
| DXCM (Dexcom) | MIRA (MIRA Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | +16.9% | -43.8% |
| 5-year return | -31.5% | n/a |
| Volatility (ann.) | 46.7% | 211.2% |
| Beta vs S&P 500 | 1.02 | -0.07 |
| Max drawdown (3Y) | -61.0% | -91.5% |
| Market cap | $33.7B | – |
| P/E (trailing) | 35.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | DXCM | MIRA |
|---|---|---|
| 2022 | -15.6% | – |
| 2023 | +9.6% | – |
| 2024 | -37.3% | +8.6% |
| 2025 | -14.7% | +32.5% |
| 2026 | +34.5% | -49.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DXCM and MIRA good diversifiers for each other?
Yes: at -0.36, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DXCM and MIRA?
As of 2026-08-27, the correlation of weekly returns between DXCM and MIRA is -0.36 over 3 years, -0.08 over 1 year and n/a over 5 years.
Is MIRA a good diversifier for DXCM?
Yes: at -0.36, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.36 mean?
On the −1 to +1 scale, -0.36 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.
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Related comparisons
Hubs: DXCM correlations · MIRA correlations
