EXC vs MRNA: Correlation
Exelon (EXC) and Moderna (MRNA) show a negative relationship: their 3-year correlation of weekly returns is -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXC and MRNA?
Across a 3-year window, the weekly returns of EXC and MRNA correlate at -0.20, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.23 lands near the 3-year figure. Stretching to 5 years gives -0.08, with an annualized covariance of -394.6 %².
By 3-year correlation, MRNA places #25 of the 41 assets tracked against EXC. Their recent paths diverged sharply: over the last 12 months MRNA outperformed by 467.1 percentage points (+1.7% for EXC against +468.8% for MRNA). This link changes with the market regime, having swung between -0.50 and 0.43 on a rolling one-year basis. Risk is not evenly split, since MRNA carries 5.2 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.
EXC vs MRNA: side by side
| EXC (Exelon) | MRNA (Moderna) | |
|---|---|---|
| 1-year return | +1.7% | +468.8% |
| 5-year return | +48.1% | -61.5% |
| Volatility (ann.) | 19.4% | 100.7% |
| Beta vs S&P 500 | -0.05 | 0.98 |
| Max drawdown (3Y) | -18.9% | -86.6% |
| Market cap | $45.3B | $57.0B |
| P/E (trailing) | 16.3 | – |
| Dividend yield | 3.69% | 0.00% |
| Sector / category | Utilities | Health Care |
Year-by-year returns
| Year | EXC | MRNA |
|---|---|---|
| 2022 | +8.3% | -29.3% |
| 2023 | -14.0% | -44.6% |
| 2024 | +9.2% | -58.2% |
| 2025 | +20.0% | -29.1% |
| 2026 | +2.7% | +384.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXC and MRNA good diversifiers for each other?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EXC and MRNA?
The EXC/MRNA correlation stands at -0.20 on a 3-year window (1 year: -0.23, 5 years: -0.08), computed from weekly returns as of 2026-08-27.
Is MRNA a good diversifier for EXC?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.20 mean?
A reading of -0.20 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/exc-vs-mrna.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/exc-vs-mrna/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EXC correlations · MRNA correlations
