MBIO vs OVID: Correlation
Measured on weekly returns over the past three years, Mustang Bio, Inc. (MBIO) and Ovid Therapeutics Inc. (OVID) carry a correlation of -0.29, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MBIO and OVID?
Across a 3-year window, the weekly returns of MBIO and OVID correlate at -0.29, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.09) runs above the 3-year figure (-0.29). Stretching to 5 years gives -0.24, with an annualized covariance of -6784.6 %².
Among the 10 assets we track against MBIO, OVID sits near the bottom by co-movement, at rank #9. Their recent paths diverged sharply: over the last 12 months OVID outperformed by 196.5 percentage points (-64.0% for MBIO against +132.5% for OVID). Note the risk asymmetry: MBIO runs 2.2 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.
MBIO vs OVID: side by side
| MBIO (Mustang Bio, Inc.) | OVID (Ovid Therapeutics Inc.) | |
|---|---|---|
| 1-year return | -64.0% | +132.5% |
| 5-year return | -100.0% | -16.5% |
| Volatility (ann.) | 222.7% | 103.3% |
| Beta vs S&P 500 | 1.27 | 2.01 |
| Max drawdown (3Y) | -99.7% | -93.7% |
| Market cap | – | $0.6B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MBIO | OVID |
|---|---|---|
| 2022 | -76.2% | -42.1% |
| 2023 | -77.2% | +73.1% |
| 2024 | -86.9% | -71.0% |
| 2025 | -88.9% | +74.5% |
| 2026 | -43.9% | +79.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MBIO and OVID good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MBIO and OVID?
The MBIO/OVID correlation stands at -0.29 on a 3-year window (1 year: 0.09, 5 years: -0.24), computed from weekly returns as of 2026-08-27.
Is OVID a good diversifier for MBIO?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 mean?
A reading of -0.29 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/mbio-vs-ovid.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mbio-vs-ovid/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MBIO correlations · OVID correlations
