MATH vs PLRX: Correlation
Measured on weekly returns over the past three years, Metalpha Technology Holding Limited (MATH) and Pliant Therapeutics, Inc. (PLRX) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MATH and PLRX?
Across a 3-year window, the weekly returns of MATH and PLRX correlate at -0.23, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.10) than the 3-year average (-0.23). Stretching to 5 years gives -0.13, with an annualized covariance of -1559.6 %².
PLRX is close to the least connected end of MATH's tracked universe, ranking #13 of 14. Their recent paths diverged sharply: over the last 12 months PLRX outperformed by 38.7 percentage points (-70.7% for MATH against -32.0% for PLRX).
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.
MATH vs PLRX: side by side
| MATH (Metalpha Technology Holding Limited) | PLRX (Pliant Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -70.7% | -32.0% |
| 5-year return | -40.4% | -93.6% |
| Volatility (ann.) | 90.1% | 74.8% |
| Beta vs S&P 500 | 0.53 | 1.32 |
| Max drawdown (3Y) | -81.9% | -94.7% |
| Market cap | – | $0.1B |
| P/E (trailing) | 41.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MATH | PLRX |
|---|---|---|
| 2022 | -57.4% | +43.2% |
| 2023 | +323.3% | -6.3% |
| 2024 | -47.2% | -27.3% |
| 2025 | +82.6% | -90.7% |
| 2026 | -60.3% | -5.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MATH and PLRX good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MATH and PLRX?
The MATH/PLRX correlation stands at -0.23 on a 3-year window (1 year: 0.10, 5 years: -0.13), computed from weekly returns as of 2026-08-27.
Is PLRX a good diversifier for MATH?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
A reading of -0.23 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/math-vs-plrx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/math-vs-plrx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MATH correlations · PLRX correlations
