MDRR vs WHWK: Correlation
How closely do Medalist Diversified, Inc. (MDRR) and Whitehawk Therapeutics, Inc. (WHWK) trade together? Their weekly returns over three years give a correlation of 0.25, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDRR and WHWK?
Over the past 3 years, MDRR and WHWK moved with a correlation of 0.25, which is weak. Recent behaviour matches the longer record: 0.16 over 1 year against 0.25 over 3. Over 5 years the correlation is 0.18, and the annualized covariance of weekly returns is 493.7 %².
Among the 36 assets we track against MDRR, WHWK ranks #5 by 3-year correlation. The last year tells two different stories: WHWK led by 164.3 percentage points, +4.8% for MDRR against +169.1% for WHWK. Note the risk asymmetry: WHWK runs 2.5 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.
MDRR vs WHWK: side by side
| MDRR (Medalist Diversified, Inc.) | WHWK (Whitehawk Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +4.8% | +169.1% |
| 5-year return | -31.3% | -80.9% |
| Volatility (ann.) | 28.1% | 69.1% |
| Beta vs S&P 500 | -0.02 | 1.03 |
| Max drawdown (3Y) | -29.5% | -80.6% |
| Market cap | – | $0.3B |
| P/E (trailing) | 3.1 | – |
| Dividend yield | 2.21% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MDRR | WHWK |
|---|---|---|
| 2022 | -37.3% | -46.9% |
| 2023 | -4.0% | -84.3% |
| 2024 | +28.6% | +56.2% |
| 2025 | -5.5% | -23.3% |
| 2026 | -0.7% | +101.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDRR and WHWK good diversifiers for each other?
A fair diversifier. At 0.25, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MDRR and WHWK?
Using weekly returns as of 2026-08-27: 0.25 over 3 years, with 0.16 over the last year and 0.18 over 5 years.
Is WHWK a good diversifier for MDRR?
A fair diversifier. At 0.25, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.25 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.
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Related comparisons
Hubs: MDRR correlations · WHWK correlations
