MFIN vs PRLB: Correlation
How closely do Medallion Financial Corp. (MFIN) and Proto Labs, Inc. (PRLB) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MFIN and PRLB?
Across a 3-year window, the weekly returns of MFIN and PRLB correlate at 0.54, moderate. The link has loosened recently: the 1-year correlation (0.38) runs below the 3-year figure (0.54). Stretching to 5 years gives 0.37, with an annualized covariance of 882.1 %².
PRLB is one of the assets that tracks MFIN most closely: it ranks #1 out of the 14 assets we track against MFIN. Their recent paths diverged sharply: over the last 12 months PRLB outperformed by 39.2 percentage points (+18.4% for MFIN against +57.6% for PRLB). One caveat on sizing: PRLB is 1.6 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.
MFIN vs PRLB: side by side
| MFIN (Medallion Financial Corp.) | PRLB (Proto Labs, Inc.) | |
|---|---|---|
| 1-year return | +18.4% | +57.6% |
| 5-year return | +74.5% | +10.1% |
| Volatility (ann.) | 32.3% | 50.3% |
| Beta vs S&P 500 | 0.90 | 1.52 |
| Max drawdown (3Y) | -30.8% | -33.6% |
| Market cap | $0.3B | $1.9B |
| P/E (trailing) | 8.8 | 62.6 |
| Dividend yield | 4.27% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MFIN | PRLB |
|---|---|---|
| 2022 | +28.4% | -50.3% |
| 2023 | +44.0% | +52.6% |
| 2024 | +0.1% | +0.3% |
| 2025 | +15.1% | +29.4% |
| 2026 | +19.5% | +58.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MFIN and PRLB good diversifiers for each other?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between MFIN and PRLB?
As of 2026-08-27, the correlation of weekly returns between MFIN and PRLB is 0.54 over 3 years, 0.38 over 1 year and 0.37 over 5 years.
Is PRLB a good diversifier for MFIN?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.54 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: MFIN correlations · PRLB correlations
