MDIA vs ORKA: Correlation
Measured on weekly returns over the past three years, Mediaco Holding Inc. (MDIA) and Oruka Therapeutics, Inc. (ORKA) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDIA and ORKA?
Across a 3-year window, the weekly returns of MDIA and ORKA correlate at 0.50, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.29 versus 0.50 over 3 years. Stretching to 5 years gives 0.46, with an annualized covariance of 15635.0 %².
In MDIA's tracked universe of 10 assets, ORKA sits right near the top at #3. Their recent paths diverged sharply: over the last 12 months ORKA outperformed by 556.6 percentage points (-20.6% for MDIA against +536.0% for ORKA). Note the risk asymmetry: MDIA runs 4.8 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.
MDIA vs ORKA: side by side
| MDIA (Mediaco Holding Inc.) | ORKA (Oruka Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -20.6% | +536.0% |
| 5-year return | -89.6% | +390.4% |
| Volatility (ann.) | 389.4% | 80.7% |
| Beta vs S&P 500 | -0.94 | 0.66 |
| Max drawdown (3Y) | -90.2% | -77.8% |
| Market cap | $0.1B | $6.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MDIA | ORKA |
|---|---|---|
| 2022 | -78.5% | +10.2% |
| 2023 | -62.6% | -28.3% |
| 2024 | +165.1% | +76.7% |
| 2025 | -49.1% | +56.3% |
| 2026 | +79.3% | +218.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDIA and ORKA good diversifiers for each other?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MDIA and ORKA?
As of 2026-08-27, the correlation of weekly returns between MDIA and ORKA is 0.50 over 3 years, 0.29 over 1 year and 0.46 over 5 years.
Is ORKA a good diversifier for MDIA?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.50 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/mdia-vs-orka.json
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Related comparisons
Hubs: MDIA correlations · ORKA correlations
