MI vs MTVA: Correlation
How closely do NFT Limited Class A (MI) and MetaVia Inc. (MTVA) trade together? Their weekly returns over three years give a correlation of 0.83, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MI and MTVA?
Over the past 3 years, MI and MTVA moved with a correlation of 0.83, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.91 lands near the 3-year figure. Over 5 years the correlation is 0.70, and the annualized covariance of weekly returns is 638829.0 %².
MTVA is one of the assets that tracks MI most closely: it ranks #2 out of the 32 assets we track against MI. Their recent paths diverged sharply: over the last 12 months MI outperformed by 65.9 percentage points (-10.3% for MI against -76.2% for MTVA). Risk is not evenly split, since MI carries 25.6 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.
MI vs MTVA: side by side
| MI (NFT Limited Class A) | MTVA (MetaVia Inc.) | |
|---|---|---|
| 1-year return | -10.3% | -76.2% |
| 5-year return | -99.5% | -100.0% |
| Volatility (ann.) | 4443.9% | 173.6% |
| Beta vs S&P 500 | 8.21 | 1.46 |
| Max drawdown (3Y) | -98.5% | -98.6% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MI | MTVA |
|---|---|---|
| 2022 | -86.4% | -98.0% |
| 2023 | -66.2% | -35.6% |
| 2024 | -61.9% | -45.1% |
| 2025 | +13.3% | -62.3% |
| 2026 | -28.9% | -80.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MI and MTVA good diversifiers for each other?
No. With a correlation of 0.83, MI and MTVA move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between MI and MTVA?
Using weekly returns as of 2026-08-27: 0.83 over 3 years, with 0.91 over the last year and 0.70 over 5 years.
Is MTVA a good diversifier for MI?
No. With a correlation of 0.83, MI and MTVA move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.83 mean?
A reading of 0.83 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: MI correlations · MTVA correlations
