IRON vs MDIA: Correlation
How closely do Disc Medicine, Inc. (IRON) and Mediaco Holding Inc. (MDIA) trade together? Their weekly returns over three years give a correlation of -0.41, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IRON and MDIA?
Across a 3-year window, the weekly returns of IRON and MDIA correlate at -0.41, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.05) runs above the 3-year figure (-0.41). Stretching to 5 years gives -0.26, with an annualized covariance of -9442.5 %².
MDIA is close to the least connected end of IRON's tracked universe, ranking #12 of 15. Correlation aside, the last 12 months split them widely, with IRON ahead by 58.3 points (+37.7% versus -20.6%). Risk is not evenly split, since MDIA carries 6.5 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.
IRON vs MDIA: side by side
| IRON (Disc Medicine, Inc.) | MDIA (Mediaco Holding Inc.) | |
|---|---|---|
| 1-year return | +37.7% | -20.6% |
| 5-year return | -32.4% | -89.6% |
| Volatility (ann.) | 59.7% | 389.4% |
| Beta vs S&P 500 | 1.70 | -0.94 |
| Max drawdown (3Y) | -64.8% | -90.2% |
| Market cap | $3.2B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IRON | MDIA |
|---|---|---|
| 2022 | -77.2% | -78.5% |
| 2023 | +190.4% | -62.6% |
| 2024 | +9.8% | +165.1% |
| 2025 | +25.3% | -49.1% |
| 2026 | +4.0% | +79.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IRON and MDIA good diversifiers for each other?
Yes. With a correlation of -0.41, IRON and MDIA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between IRON and MDIA?
The IRON/MDIA correlation stands at -0.41 on a 3-year window (1 year: 0.05, 5 years: -0.26), computed from weekly returns as of 2026-08-27.
Is MDIA a good diversifier for IRON?
Yes. With a correlation of -0.41, IRON and MDIA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.41 mean?
A reading of -0.41 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: IRON correlations · MDIA correlations
