MITK vs PRLD: Correlation
Measured on weekly returns over the past three years, Mitek Systems, Inc. (MITK) and Prelude Therapeutics Incorporated (PRLD) carry a correlation of 0.35, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MITK and PRLD?
On 3 years of weekly data the MITK/PRLD correlation comes out at 0.35, moderate. The past 12 months show a weaker link (0.18) than the 3-year average (0.35). The 5-year figure is 0.32, and annualized covariance runs at 1978.3 %².
By 3-year correlation, PRLD places #8 of the 14 assets tracked against MITK. Their recent paths diverged sharply: over the last 12 months PRLD outperformed by 308.6 percentage points (+86.7% for MITK against +395.3% for PRLD). Risk is not evenly split, since PRLD carries 2.2 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.
MITK vs PRLD: side by side
| MITK (Mitek Systems, Inc.) | PRLD (Prelude Therapeutics Incorporated) | |
|---|---|---|
| 1-year return | +86.7% | +395.3% |
| 5-year return | -15.0% | -82.8% |
| Volatility (ann.) | 51.1% | 109.9% |
| Beta vs S&P 500 | 1.14 | 1.35 |
| Max drawdown (3Y) | -52.1% | -90.4% |
| Market cap | $0.9B | $0.5B |
| P/E (trailing) | 40.9 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MITK | PRLD |
|---|---|---|
| 2022 | -45.4% | -51.5% |
| 2023 | +34.6% | -29.3% |
| 2024 | -14.6% | -70.1% |
| 2025 | -5.2% | +127.5% |
| 2026 | +82.1% | +118.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MITK and PRLD good diversifiers for each other?
Reasonably. At 0.35, MITK and PRLD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MITK and PRLD?
The MITK/PRLD correlation stands at 0.35 on a 3-year window (1 year: 0.18, 5 years: 0.32), computed from weekly returns as of 2026-08-27.
Is PRLD a good diversifier for MITK?
Reasonably. At 0.35, MITK and PRLD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.35 mean?
On the −1 to +1 scale, 0.35 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mitk-vs-prld.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mitk-vs-prld/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MITK correlations · PRLD correlations
