MGLD vs PPCB: Correlation
How closely do The Marygold Companies, Inc. (MGLD) and Propanc Biopharma, Inc. (PPCB) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MGLD and PPCB?
Across a 3-year window, the weekly returns of MGLD and PPCB correlate at -0.26, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.04) than the 3-year average (-0.26). Stretching to 5 years gives -0.21, with an annualized covariance of -19499755.8 %².
PPCB is close to the least connected end of MGLD's tracked universe, ranking #14 of 16. Their recent paths diverged sharply: over the last 12 months MGLD outperformed by 105.7 percentage points (+8.7% for MGLD against -97.0% for PPCB). Note the risk asymmetry: PPCB runs 12463.7 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.
MGLD vs PPCB: side by side
| MGLD (The Marygold Companies, Inc.) | PPCB (Propanc Biopharma, Inc.) | |
|---|---|---|
| 1-year return | +8.7% | -97.0% |
| 5-year return | -70.5% | -99.9% |
| Volatility (ann.) | 77.2% | 962193.8% |
| Beta vs S&P 500 | -0.28 | -3746.20 |
| Max drawdown (3Y) | -66.8% | -99.8% |
| Market cap | – | – |
| P/E (trailing) | – | 0.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MGLD | PPCB |
|---|---|---|
| 2022 | – | -98.6% |
| 2023 | -29.3% | -98.0% |
| 2024 | +66.0% | -98.3% |
| 2025 | -49.8% | +134050.0% |
| 2026 | +13.3% | -83.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MGLD and PPCB good diversifiers for each other?
Yes. With a correlation of -0.26, MGLD and PPCB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MGLD and PPCB?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with 0.04 over the last year and -0.21 over 5 years.
Is PPCB a good diversifier for MGLD?
Yes. With a correlation of -0.26, MGLD and PPCB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 mean?
A reading of -0.26 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mgld-vs-ppcb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mgld-vs-ppcb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MGLD correlations · PPCB correlations
