MIRM vs MNKD: Correlation
How closely do Mirum Pharmaceuticals, Inc. (MIRM) and MannKind Corporation (MNKD) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MIRM and MNKD?
Across a 3-year window, the weekly returns of MIRM and MNKD correlate at 0.40, moderate. Little has changed lately, as the 1-year reading of 0.46 lands near the 3-year figure. Stretching to 5 years gives 0.28, with an annualized covariance of 1002.9 %².
By 3-year correlation, MNKD places #4 of the 11 assets tracked against MIRM. Their recent paths diverged sharply: over the last 12 months MIRM outperformed by 43.8 percentage points (+33.6% for MIRM against -10.2% for MNKD).
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.
MIRM vs MNKD: side by side
| MIRM (Mirum Pharmaceuticals, Inc.) | MNKD (MannKind Corporation) | |
|---|---|---|
| 1-year return | +33.6% | -10.2% |
| 5-year return | +522.7% | -13.8% |
| Volatility (ann.) | 43.0% | 57.7% |
| Beta vs S&P 500 | 0.73 | 1.17 |
| Max drawdown (3Y) | -32.5% | -69.4% |
| Market cap | $6.1B | $1.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MIRM | MNKD |
|---|---|---|
| 2022 | +22.3% | +20.6% |
| 2023 | +51.4% | -30.9% |
| 2024 | +40.1% | +76.6% |
| 2025 | +91.0% | -11.8% |
| 2026 | +26.3% | -28.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MIRM and MNKD good diversifiers for each other?
Reasonably. At 0.40, MIRM and MNKD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MIRM and MNKD?
The MIRM/MNKD correlation stands at 0.40 on a 3-year window (1 year: 0.46, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is MNKD a good diversifier for MIRM?
Reasonably. At 0.40, MIRM and MNKD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 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
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[](https://www.pairbook.io/pair/mirm-vs-mnkd/)
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Related comparisons
Hubs: MIRM correlations · MNKD correlations
