MAT vs PHIO: Correlation
How closely do Mattel, Inc. (MAT) and Phio Pharmaceuticals Corp. (PHIO) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MAT and PHIO?
On 3 years of weekly data the MAT/PHIO correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.57) runs below the 3-year figure (-0.21). The 5-year figure is -0.07, and annualized covariance runs at -796.6 %².
Out of 12 assets tracked against MAT, PHIO lands near the bottom at #9. Correlation aside, the last 12 months split them widely, with MAT ahead by 25.3 points (-19.5% versus -44.8%). Note the risk asymmetry: PHIO runs 3.4 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.
MAT vs PHIO: side by side
| MAT (Mattel, Inc.) | PHIO (Phio Pharmaceuticals Corp.) | |
|---|---|---|
| 1-year return | -19.5% | -44.8% |
| 5-year return | -31.2% | -99.5% |
| Volatility (ann.) | 34.0% | 113.9% |
| Beta vs S&P 500 | 0.87 | 1.91 |
| Max drawdown (3Y) | -41.5% | -96.3% |
| Market cap | $4.3B | – |
| P/E (trailing) | 11.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MAT | PHIO |
|---|---|---|
| 2022 | -17.3% | -62.8% |
| 2023 | +5.8% | -83.0% |
| 2024 | -6.1% | -73.7% |
| 2025 | +11.9% | -41.7% |
| 2026 | -24.8% | +6.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MAT and PHIO good diversifiers for each other?
Yes. With a correlation of -0.21, MAT and PHIO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MAT and PHIO?
As of 2026-08-27, the correlation of weekly returns between MAT and PHIO is -0.21 over 3 years, -0.57 over 1 year and -0.07 over 5 years.
Is PHIO a good diversifier for MAT?
Yes. With a correlation of -0.21, MAT and PHIO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mat-vs-phio.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mat-vs-phio/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MAT correlations · PHIO correlations
