EVTL vs MDAI: Correlation
Vertical Aerospace Ltd. (EVTL) and Spectral AI, Inc. (MDAI) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVTL and MDAI?
Over the past 3 years, EVTL and MDAI moved with a correlation of 0.38, which is moderate. Little has changed lately, as the 1-year reading of 0.34 lands near the 3-year figure. Over 5 years the correlation is 0.32, and the annualized covariance of weekly returns is 5471.3 %².
Within EVTL's tracked universe of 13 assets, MDAI comes in at #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MDAI ahead by 62.7 points (-85.1% versus -22.4%).
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.
EVTL vs MDAI: side by side
| EVTL (Vertical Aerospace Ltd.) | MDAI (Spectral AI, Inc.) | |
|---|---|---|
| 1-year return | -85.1% | -22.4% |
| 5-year return | -99.2% | -83.2% |
| Volatility (ann.) | 135.6% | 105.0% |
| Beta vs S&P 500 | 3.07 | 1.03 |
| Max drawdown (3Y) | -95.9% | -93.5% |
| Market cap | $0.1B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EVTL | MDAI |
|---|---|---|
| 2022 | -49.6% | +3.0% |
| 2023 | -79.7% | -75.6% |
| 2024 | +82.8% | +15.0% |
| 2025 | -57.6% | -49.8% |
| 2026 | -86.1% | +14.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVTL and MDAI good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between EVTL and MDAI?
As of 2026-08-27, the correlation of weekly returns between EVTL and MDAI is 0.38 over 3 years, 0.34 over 1 year and 0.32 over 5 years.
Is MDAI a good diversifier for EVTL?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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/evtl-vs-mdai.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/evtl-vs-mdai/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EVTL correlations · MDAI correlations
