GNPX vs MLAB: Correlation
How closely do Genprex, Inc. (GNPX) and Mesa Laboratories, Inc. (MLAB) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GNPX and MLAB?
Across a 3-year window, the weekly returns of GNPX and MLAB correlate at -0.19, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.01) runs above the 3-year figure (-0.19). Stretching to 5 years gives -0.15, with an annualized covariance of -2549.2 %².
By 3-year correlation, MLAB places #15 of the 33 assets tracked against GNPX. Their recent paths diverged sharply: over the last 12 months MLAB outperformed by 186.5 percentage points (-98.1% for GNPX against +88.4% for MLAB). Risk is not evenly split, since GNPX carries 4.9 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.
GNPX vs MLAB: side by side
| GNPX (Genprex, Inc.) | MLAB (Mesa Laboratories, Inc.) | |
|---|---|---|
| 1-year return | -98.1% | +88.4% |
| 5-year return | -100.0% | -51.1% |
| Volatility (ann.) | 255.0% | 52.3% |
| Beta vs S&P 500 | -0.45 | 1.12 |
| Max drawdown (3Y) | -100.0% | -62.8% |
| Market cap | – | $0.7B |
| P/E (trailing) | 0.1 | 151.4 |
| Dividend yield | 0.00% | 0.50% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GNPX | MLAB |
|---|---|---|
| 2022 | +10.7% | -49.2% |
| 2023 | -84.1% | -36.6% |
| 2024 | -90.7% | +26.6% |
| 2025 | -95.9% | -40.0% |
| 2026 | -90.6% | +64.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GNPX and MLAB good diversifiers for each other?
Yes. With a correlation of -0.19, GNPX and MLAB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GNPX and MLAB?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with 0.01 over the last year and -0.15 over 5 years.
Is MLAB a good diversifier for GNPX?
Yes. With a correlation of -0.19, GNPX and MLAB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 mean?
A reading of -0.19 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/gnpx-vs-mlab.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gnpx-vs-mlab/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GNPX correlations · MLAB correlations
