JBIO vs MBIO: Correlation
How closely do Jade Biosciences, Inc. (JBIO) and Mustang Bio, Inc. (MBIO) trade together? Their weekly returns over three years give a correlation of -0.42, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JBIO and MBIO?
Over the past 3 years, JBIO and MBIO moved with a correlation of -0.42, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.09 versus -0.42 over 3 years. Over 5 years the correlation is -0.31, and the annualized covariance of weekly returns is -9915.9 %².
Among the 15 assets we track against JBIO, MBIO sits near the bottom by co-movement, at rank #15. Their recent paths diverged sharply: over the last 12 months JBIO outperformed by 231.8 percentage points (+167.8% for JBIO against -64.0% for MBIO). One caveat on sizing: MBIO is 2.1 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.
JBIO vs MBIO: side by side
| JBIO (Jade Biosciences, Inc.) | MBIO (Mustang Bio, Inc.) | |
|---|---|---|
| 1-year return | +167.8% | -64.0% |
| 5-year return | -96.3% | -100.0% |
| Volatility (ann.) | 106.5% | 222.7% |
| Beta vs S&P 500 | 0.77 | 1.27 |
| Max drawdown (3Y) | -99.4% | -99.7% |
| Market cap | $1.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JBIO | MBIO |
|---|---|---|
| 2022 | +148.5% | -76.2% |
| 2023 | -22.8% | -77.2% |
| 2024 | -88.3% | -86.9% |
| 2025 | -82.9% | -88.9% |
| 2026 | +38.0% | -43.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JBIO and MBIO good diversifiers for each other?
Yes. With a correlation of -0.42, JBIO and MBIO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between JBIO and MBIO?
Using weekly returns as of 2026-08-27: -0.42 over 3 years, with 0.09 over the last year and -0.31 over 5 years.
Is MBIO a good diversifier for JBIO?
Yes. With a correlation of -0.42, JBIO and MBIO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.42 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/jbio-vs-mbio.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jbio-vs-mbio/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: JBIO correlations · MBIO correlations
