IAUX vs PULM: Correlation
i-80 Gold Corp. (IAUX) and Pulmatrix, Inc. (PULM) show a negative relationship: their 3-year correlation of weekly returns is -0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IAUX and PULM?
On 3 years of weekly data the IAUX/PULM correlation comes out at -0.37, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.15) runs above the 3-year figure (-0.37). The 5-year figure is -0.31, and annualized covariance runs at -4865.1 %².
PULM is close to the least connected end of IAUX's tracked universe, ranking #14 of 15. Correlation aside, the last 12 months split them widely, with IAUX ahead by 221.0 points (+152.3% versus -68.7%). Note the risk asymmetry: PULM runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
IAUX vs PULM: side by side
| IAUX (i-80 Gold Corp.) | PULM (Pulmatrix, Inc.) | |
|---|---|---|
| 1-year return | +152.3% | -68.7% |
| 5-year return | -7.4% | -90.6% |
| Volatility (ann.) | 91.2% | 144.8% |
| Beta vs S&P 500 | 1.99 | -0.18 |
| Max drawdown (3Y) | -82.6% | -88.1% |
| Market cap | $1.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IAUX | PULM |
|---|---|---|
| 2022 | +15.0% | -55.7% |
| 2023 | -37.6% | -52.1% |
| 2024 | -72.4% | +275.3% |
| 2025 | +201.0% | -68.1% |
| 2026 | +31.5% | -31.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IAUX and PULM good diversifiers for each other?
Yes. With a correlation of -0.37, IAUX and PULM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between IAUX and PULM?
The IAUX/PULM correlation stands at -0.37 on a 3-year window (1 year: -0.15, 5 years: -0.31), computed from weekly returns as of 2026-08-27.
Is PULM a good diversifier for IAUX?
Yes. With a correlation of -0.37, IAUX and PULM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.37 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/iaux-vs-pulm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/iaux-vs-pulm/)
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Related comparisons
Hubs: IAUX correlations · PULM correlations
