MBIO vs WRAP: Correlation
Mustang Bio, Inc. (MBIO) and Wrap Technologies, Inc. (WRAP) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MBIO and WRAP?
Over the past 3 years, MBIO and WRAP moved with a correlation of 0.42, which is moderate. The link has loosened recently: the 1-year correlation (0.23) runs below the 3-year figure (0.42). Over 5 years the correlation is 0.38, and the annualized covariance of weekly returns is 9803.1 %².
By 3-year correlation, WRAP places #4 of the 10 assets tracked against MBIO. Correlation aside, the last 12 months split them widely, with WRAP ahead by 94.3 points (-64.0% versus +30.3%). 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.
MBIO vs WRAP: side by side
| MBIO (Mustang Bio, Inc.) | WRAP (Wrap Technologies, Inc.) | |
|---|---|---|
| 1-year return | -64.0% | +30.3% |
| 5-year return | -100.0% | -77.2% |
| Volatility (ann.) | 222.7% | 106.0% |
| Beta vs S&P 500 | 1.27 | 2.11 |
| Max drawdown (3Y) | -99.7% | -76.8% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MBIO | WRAP |
|---|---|---|
| 2022 | -76.2% | -57.0% |
| 2023 | -77.2% | +83.4% |
| 2024 | -86.9% | -31.6% |
| 2025 | -88.9% | +12.3% |
| 2026 | -43.9% | -27.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MBIO and WRAP good diversifiers for each other?
Reasonably. At 0.42, MBIO and WRAP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MBIO and WRAP?
The MBIO/WRAP correlation stands at 0.42 on a 3-year window (1 year: 0.23, 5 years: 0.38), computed from weekly returns as of 2026-08-27.
Is WRAP a good diversifier for MBIO?
Reasonably. At 0.42, MBIO and WRAP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
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/mbio-vs-wrap.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mbio-vs-wrap/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MBIO correlations · WRAP correlations
