MIRA vs WM: Correlation
MIRA Pharmaceuticals, Inc. (MIRA) and Waste Management (WM) show a negative relationship: their 3-year correlation of weekly returns is -0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MIRA and WM?
Over the past 3 years, MIRA and WM moved with a correlation of -0.37, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.01) than the 3-year average (-0.37). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -1420.0 %².
WM is close to the least connected end of MIRA's tracked universe, ranking #16 of 16. Correlation aside, the last 12 months split them widely, with WM ahead by 41.8 points (-43.8% versus -2.0%). Risk is not evenly split, since MIRA carries 11.5 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.
MIRA vs WM: side by side
| MIRA (MIRA Pharmaceuticals, Inc.) | WM (Waste Management) | |
|---|---|---|
| 1-year return | -43.8% | -2.0% |
| 5-year return | n/a | +51.8% |
| Volatility (ann.) | 211.2% | 18.3% |
| Beta vs S&P 500 | -0.07 | 0.07 |
| Max drawdown (3Y) | -91.5% | -18.1% |
| Market cap | – | $87.0B |
| P/E (trailing) | – | 30.8 |
| Dividend yield | 0.00% | 1.60% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | MIRA | WM |
|---|---|---|
| 2022 | – | -4.5% |
| 2023 | – | +16.2% |
| 2024 | +8.6% | +14.3% |
| 2025 | +32.5% | +10.5% |
| 2026 | -49.0% | -0.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MIRA and WM good diversifiers for each other?
Yes. With a correlation of -0.37, MIRA and WM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MIRA and WM?
The MIRA/WM correlation stands at -0.37 on a 3-year window (1 year: -0.01, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is WM a good diversifier for MIRA?
Yes. With a correlation of -0.37, MIRA and WM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.37 mean?
A reading of -0.37 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/mira-vs-wm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mira-vs-wm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MIRA correlations · WM correlations
