HWH vs MLYS: Correlation
Measured on weekly returns over the past three years, HWH International Inc. (HWH) and Mineralys Therapeutics, Inc. (MLYS) carry a correlation of 0.57, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HWH and MLYS?
Over the past 3 years, HWH and MLYS moved with a correlation of 0.57, which is moderate. The past 12 months show a tighter link (0.83) than the 3-year average (0.57). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 10906.5 %².
Few assets follow HWH as closely as MLYS, which ranks #2 of 12 tracked partners. Their recent paths diverged sharply: over the last 12 months MLYS outperformed by 29.9 percentage points (+41.1% for HWH against +71.0% for MLYS). Risk is not evenly split, since HWH carries 2.1 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.
HWH vs MLYS: side by side
| HWH (HWH International Inc.) | MLYS (Mineralys Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +41.1% | +71.0% |
| 5-year return | -95.9% | n/a |
| Volatility (ann.) | 198.9% | 95.4% |
| Beta vs S&P 500 | 0.98 | 1.54 |
| Max drawdown (3Y) | -98.3% | -54.0% |
| Market cap | – | $2.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HWH | MLYS |
|---|---|---|
| 2023 | +2.5% | – |
| 2024 | -93.7% | +43.1% |
| 2025 | -53.8% | +194.8% |
| 2026 | +33.6% | -28.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HWH and MLYS good diversifiers for each other?
To a limited degree. At 0.57 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between HWH and MLYS?
The HWH/MLYS correlation stands at 0.57 on a 3-year window (1 year: 0.83, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is MLYS a good diversifier for HWH?
To a limited degree. At 0.57 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.57 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hwh-vs-mlys.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hwh-vs-mlys/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HWH correlations · MLYS correlations
