FLYE vs MD: Correlation
Measured on weekly returns over the past three years, Fly-E Group, Inc. (FLYE) and Pediatrix Medical Group, Inc. (MD) 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 FLYE and MD?
On 3 years of weekly data the FLYE/MD correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.27 over 1 year against -0.22 over 3. The 5-year figure is n/a, and annualized covariance runs at -1640.2 %².
Among the 44 assets we track against FLYE, MD ranks #28 by 3-year correlation. The last year tells two different stories: MD led by 145.0 percentage points, -89.0% for FLYE against +56.0% for MD. One caveat on sizing: FLYE is 3.3 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.
FLYE vs MD: side by side
| FLYE (Fly-E Group, Inc.) | MD (Pediatrix Medical Group, Inc.) | |
|---|---|---|
| 1-year return | -89.0% | +56.0% |
| 5-year return | n/a | -23.8% |
| Volatility (ann.) | 153.0% | 46.2% |
| Beta vs S&P 500 | 1.73 | 0.33 |
| Max drawdown (3Y) | -99.8% | -52.8% |
| Market cap | – | $2.2B |
| P/E (trailing) | – | 12.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FLYE | MD |
|---|---|---|
| 2022 | – | -45.4% |
| 2023 | – | -37.4% |
| 2024 | – | +41.1% |
| 2025 | -92.1% | +63.0% |
| 2026 | -74.4% | +25.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLYE and MD good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FLYE and MD?
As of 2026-08-27, the correlation of weekly returns between FLYE and MD is -0.22 over 3 years, -0.27 over 1 year and n/a over 5 years.
Is MD a good diversifier for FLYE?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: FLYE correlations · MD correlations
