MLSS vs WING: Correlation
How closely do Milestone Scientific, Inc. (MLSS) and Wingstop Inc. (WING) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MLSS and WING?
Across a 3-year window, the weekly returns of MLSS and WING correlate at -0.21, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.36 versus -0.21 over 3 years. Stretching to 5 years gives -0.08, with an annualized covariance of -984.5 %².
Out of 10 assets tracked against MLSS, WING lands near the bottom at #9. Their recent paths diverged sharply: over the last 12 months MLSS outperformed by 51.5 percentage points (-15.8% for MLSS against -67.3% for WING). One caveat on sizing: MLSS is 1.5 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.
MLSS vs WING: side by side
| MLSS (Milestone Scientific, Inc.) | WING (Wingstop Inc.) | |
|---|---|---|
| 1-year return | -15.8% | -67.3% |
| 5-year return | -72.6% | -31.4% |
| Volatility (ann.) | 84.1% | 55.1% |
| Beta vs S&P 500 | 0.81 | 1.29 |
| Max drawdown (3Y) | -81.2% | -74.0% |
| Market cap | – | $3.0B |
| P/E (trailing) | – | 26.5 |
| Dividend yield | 0.00% | 1.07% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MLSS | WING |
|---|---|---|
| 2022 | -76.7% | -17.1% |
| 2023 | +43.8% | +87.3% |
| 2024 | +39.1% | +11.1% |
| 2025 | -71.9% | -15.7% |
| 2026 | +87.0% | -53.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MLSS and WING good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between MLSS and WING?
The MLSS/WING correlation stands at -0.21 on a 3-year window (1 year: -0.36, 5 years: -0.08), computed from weekly returns as of 2026-08-27.
Is WING a good diversifier for MLSS?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 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/mlss-vs-wing.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mlss-vs-wing/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MLSS correlations · WING correlations
