MI vs PARA: Correlation
How closely do NFT Limited Class A (MI) and Banzai International, Inc. (PARA) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MI and PARA?
Over the past 3 years, MI and PARA moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.42 versus -0.25 over 3 years. Over 5 years the correlation is -0.25, and the annualized covariance of weekly returns is -125921.4 %².
Within MI's tracked universe of 32 assets, PARA comes in at #26 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MI ahead by 87.9 points (-10.3% versus -98.2%). One caveat on sizing: MI is 38.8 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.
MI vs PARA: side by side
| MI (NFT Limited Class A) | PARA (Banzai International, Inc.) | |
|---|---|---|
| 1-year return | -10.3% | -98.2% |
| 5-year return | -99.5% | -100.0% |
| Volatility (ann.) | 4443.9% | 114.5% |
| Beta vs S&P 500 | 8.21 | -0.02 |
| Max drawdown (3Y) | -98.5% | -100.0% |
| Market cap | – | – |
| P/E (trailing) | – | 0.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MI | PARA |
|---|---|---|
| 2022 | -86.4% | +3.7% |
| 2023 | -66.2% | -81.4% |
| 2024 | -61.9% | -98.4% |
| 2025 | +13.3% | -93.7% |
| 2026 | -28.9% | -93.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MI and PARA good diversifiers for each other?
Yes. With a correlation of -0.25, MI and PARA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MI and PARA?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.42 over the last year and -0.25 over 5 years.
Is PARA a good diversifier for MI?
Yes. With a correlation of -0.25, MI and PARA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mi-vs-para.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mi-vs-para/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MI correlations · PARA correlations
