INM vs MGLD: Correlation
Measured on weekly returns over the past three years, InMed Pharmaceuticals Inc. (INM) and The Marygold Companies, Inc. (MGLD) carry a correlation of 0.29, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INM and MGLD?
On 3 years of weekly data the INM/MGLD correlation comes out at 0.29, weak. Recent behaviour matches the longer record: 0.21 over 1 year against 0.29 over 3. The 5-year figure is 0.18, and annualized covariance runs at 3797.4 %².
Among the 18 assets we track against INM, MGLD ranks #12 by 3-year correlation. The last year tells two different stories: MGLD led by 45.1 percentage points, -36.4% for INM against +8.7% for MGLD. One caveat on sizing: INM is 2.2 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.
INM vs MGLD: side by side
| INM (InMed Pharmaceuticals Inc.) | MGLD (The Marygold Companies, Inc.) | |
|---|---|---|
| 1-year return | -36.4% | +8.7% |
| 5-year return | -99.9% | -70.5% |
| Volatility (ann.) | 169.8% | 77.2% |
| Beta vs S&P 500 | 2.62 | -0.28 |
| Max drawdown (3Y) | -96.9% | -66.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INM | MGLD |
|---|---|---|
| 2022 | -93.8% | – |
| 2023 | -79.4% | -29.3% |
| 2024 | -43.0% | +66.0% |
| 2025 | -77.6% | -49.8% |
| 2026 | +34.9% | +13.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INM and MGLD good diversifiers for each other?
Reasonably. At 0.29, INM and MGLD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between INM and MGLD?
Using weekly returns as of 2026-08-27: 0.29 over 3 years, with 0.21 over the last year and 0.18 over 5 years.
Is MGLD a good diversifier for INM?
Reasonably. At 0.29, INM and MGLD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.29 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/inm-vs-mgld.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/inm-vs-mgld/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: INM correlations · MGLD correlations
