MARA vs UP: Correlation
How closely do MARA Holdings, Inc. (MARA) and Wheels Up Experience Inc. (UP) trade together? Their weekly returns over three years give a correlation of 0.34, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MARA and UP?
Over the past 3 years, MARA and UP moved with a correlation of 0.34, which is moderate. Little has changed lately, as the 1-year reading of 0.37 lands near the 3-year figure. Over 5 years the correlation is 0.27, and the annualized covariance of weekly returns is 4118.3 %².
Among the 21 assets we track against MARA, UP sits near the bottom by co-movement, at rank #17. The last year tells two different stories: MARA led by 66.4 percentage points, -25.1% for MARA against -91.5% for UP. One caveat on sizing: UP is 1.7 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.
MARA vs UP: side by side
| MARA (MARA Holdings, Inc.) | UP (Wheels Up Experience Inc.) | |
|---|---|---|
| 1-year return | -25.1% | -91.5% |
| 5-year return | -70.7% | -99.6% |
| Volatility (ann.) | 83.9% | 142.6% |
| Beta vs S&P 500 | 2.07 | 1.69 |
| Max drawdown (3Y) | -78.3% | -95.8% |
| Market cap | $4.6B | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MARA | UP |
|---|---|---|
| 2022 | -89.6% | -77.8% |
| 2023 | +586.8% | -66.7% |
| 2024 | -28.6% | -51.9% |
| 2025 | -46.5% | -60.2% |
| 2026 | +32.2% | -62.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MARA and UP good diversifiers for each other?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MARA and UP?
Using weekly returns as of 2026-08-27: 0.34 over 3 years, with 0.37 over the last year and 0.27 over 5 years.
Is UP a good diversifier for MARA?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.34 mean?
A reading of 0.34 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: MARA correlations · UP correlations
