MMS vs PULM: Correlation
Maximus, Inc. (MMS) and Pulmatrix, Inc. (PULM) show a negative relationship: their 3-year correlation of weekly returns is -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MMS and PULM?
Across a 3-year window, the weekly returns of MMS and PULM correlate at -0.24, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.01) runs above the 3-year figure (-0.24). Stretching to 5 years gives -0.18, with an annualized covariance of -1049.7 %².
PULM is close to the least connected end of MMS's tracked universe, ranking #12 of 12. Their recent paths diverged sharply: over the last 12 months MMS outperformed by 38.0 percentage points (-30.7% for MMS against -68.7% for PULM). One caveat on sizing: PULM is 4.8 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.
MMS vs PULM: side by side
| MMS (Maximus, Inc.) | PULM (Pulmatrix, Inc.) | |
|---|---|---|
| 1-year return | -30.7% | -68.7% |
| 5-year return | -25.0% | -90.6% |
| Volatility (ann.) | 30.4% | 144.8% |
| Beta vs S&P 500 | 0.50 | -0.18 |
| Max drawdown (3Y) | -45.1% | -88.1% |
| Market cap | $3.1B | – |
| P/E (trailing) | 8.7 | – |
| Dividend yield | 2.14% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MMS | PULM |
|---|---|---|
| 2022 | -6.4% | -55.7% |
| 2023 | +16.0% | -52.1% |
| 2024 | -9.7% | +275.3% |
| 2025 | +17.5% | -68.1% |
| 2026 | -29.9% | -31.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MMS and PULM good diversifiers for each other?
Yes. With a correlation of -0.24, MMS and PULM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MMS and PULM?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.01 over the last year and -0.18 over 5 years.
Is PULM a good diversifier for MMS?
Yes. With a correlation of -0.24, MMS and PULM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
A reading of -0.24 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/mms-vs-pulm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mms-vs-pulm/)
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Related comparisons
Hubs: MMS correlations · PULM correlations
