MLTX vs ZNTL: Correlation
Measured on weekly returns over the past three years, MoonLake Immunotherapeutics - Class A (MLTX) and Zentalis Pharmaceuticals, Inc. (ZNTL) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MLTX and ZNTL?
Across a 3-year window, the weekly returns of MLTX and ZNTL correlate at 0.38, moderate. Little has changed lately, as the 1-year reading of 0.37 lands near the 3-year figure. Stretching to 5 years gives 0.25, with an annualized covariance of 4889.1 %².
Within MLTX's tracked universe of 13 assets, ZNTL comes in at #4 by 3-year correlation. The last year tells two different stories: ZNTL led by 185.2 percentage points, -72.0% for MLTX against +113.2% for ZNTL. Risk is not evenly split, since ZNTL carries 2.0 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.
MLTX vs ZNTL: side by side
| MLTX (MoonLake Immunotherapeutics - Class A) | ZNTL (Zentalis Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | -72.0% | +113.2% |
| 5-year return | +57.2% | -94.1% |
| Volatility (ann.) | 80.7% | 159.7% |
| Beta vs S&P 500 | 0.83 | 2.82 |
| Max drawdown (3Y) | -90.2% | -96.2% |
| Market cap | $1.3B | $0.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MLTX | ZNTL |
|---|---|---|
| 2022 | +6.2% | -76.0% |
| 2023 | +475.1% | -24.8% |
| 2024 | -10.3% | -80.0% |
| 2025 | -75.7% | -55.4% |
| 2026 | +17.8% | +187.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MLTX and ZNTL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MLTX and ZNTL?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.37 over the last year and 0.25 over 5 years.
Is ZNTL a good diversifier for MLTX?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 mean?
A reading of 0.38 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/mltx-vs-zntl.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mltx-vs-zntl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MLTX correlations · ZNTL correlations
