MFI vs PHAT: Correlation
mF International Limited - Class A (MFI) and Phathom Pharmaceuticals, Inc. (PHAT) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MFI and PHAT?
On 3 years of weekly data the MFI/PHAT correlation comes out at 0.43, moderate. The past 12 months show a weaker link (0.08) than the 3-year average (0.43). The 5-year figure is n/a, and annualized covariance runs at 8498.9 %².
Among the 16 assets we track against MFI, PHAT ranks #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PHAT outperformed by 47.2 percentage points (-75.3% for MFI against -28.1% for PHAT). Risk is not evenly split, since MFI carries 1.8 times the volatility of the other side.
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.
MFI vs PHAT: side by side
| MFI (mF International Limited - Class A) | PHAT (Phathom Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | -75.3% | -28.1% |
| 5-year return | n/a | -74.1% |
| Volatility (ann.) | 180.8% | 103.2% |
| Beta vs S&P 500 | 2.81 | 1.89 |
| Max drawdown (3Y) | -95.8% | -88.3% |
| Market cap | $0.5B | $0.7B |
| P/E (trailing) | 5.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MFI | PHAT |
|---|---|---|
| 2022 | – | -43.0% |
| 2023 | – | -18.6% |
| 2024 | – | -11.1% |
| 2025 | +245.6% | +104.3% |
| 2026 | -50.9% | -46.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MFI and PHAT good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MFI and PHAT?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.08 over the last year and n/a over 5 years.
Is PHAT a good diversifier for MFI?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 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: MFI correlations · PHAT correlations
