MGTX vs TNYA: Correlation
How closely do MeiraGTx Holdings plc (MGTX) and Tenaya Therapeutics, Inc. (TNYA) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MGTX and TNYA?
Across a 3-year window, the weekly returns of MGTX and TNYA correlate at 0.46, moderate. The link has loosened recently: the 1-year correlation (0.15) runs below the 3-year figure (0.46). Stretching to 5 years gives 0.41, with an annualized covariance of 4463.4 %².
Among the 20 assets we track against MGTX, TNYA ranks #10 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MGTX ahead by 126.9 points (+90.1% versus -36.8%). One caveat on sizing: TNYA 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.
MGTX vs TNYA: side by side
| MGTX (MeiraGTx Holdings plc) | TNYA (Tenaya Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +90.1% | -36.8% |
| 5-year return | +2.2% | -97.3% |
| Volatility (ann.) | 77.0% | 126.0% |
| Beta vs S&P 500 | 2.02 | 2.90 |
| Max drawdown (3Y) | -47.1% | -94.3% |
| Market cap | $1.4B | $0.2B |
| P/E (trailing) | 16.8 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MGTX | TNYA |
|---|---|---|
| 2022 | -72.5% | -89.4% |
| 2023 | +7.7% | +61.2% |
| 2024 | -13.2% | -55.9% |
| 2025 | +30.5% | -50.2% |
| 2026 | +77.9% | -2.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MGTX and TNYA good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MGTX and TNYA?
Using weekly returns as of 2026-08-27: 0.46 over 3 years, with 0.15 over the last year and 0.41 over 5 years.
Is TNYA a good diversifier for MGTX?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 mean?
A reading of 0.46 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/mgtx-vs-tnya.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mgtx-vs-tnya/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MGTX correlations · TNYA correlations
