MNOV vs PAM: Correlation
MediciNova, Inc. (MNOV) and Pampa Energia S.A. (PAM) show a moderate relationship: their 3-year correlation of weekly returns is 0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MNOV and PAM?
Across a 3-year window, the weekly returns of MNOV and PAM correlate at 0.30, moderate. The past 12 months show a tighter link (0.53) than the 3-year average (0.30). Stretching to 5 years gives 0.23, with an annualized covariance of 766.4 %².
Within MNOV's tracked universe of 11 assets, PAM comes in at #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PAM outperformed by 16.4 percentage points (+6.0% for MNOV against +22.4% for PAM).
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.
MNOV vs PAM: side by side
| MNOV (MediciNova, Inc.) | PAM (Pampa Energia S.A.) | |
|---|---|---|
| 1-year return | +6.0% | +22.4% |
| 5-year return | -62.8% | +339.3% |
| Volatility (ann.) | 57.3% | 45.3% |
| Beta vs S&P 500 | 0.17 | 0.38 |
| Max drawdown (3Y) | -53.7% | -40.4% |
| Market cap | $0.1B | $4.3B |
| P/E (trailing) | – | 7.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MNOV | PAM |
|---|---|---|
| 2022 | -23.5% | +51.3% |
| 2023 | -26.8% | +55.0% |
| 2024 | +40.0% | +77.6% |
| 2025 | -37.6% | +0.6% |
| 2026 | +8.4% | -8.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MNOV and PAM good diversifiers for each other?
A fair diversifier. At 0.30, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MNOV and PAM?
As of 2026-08-27, the correlation of weekly returns between MNOV and PAM is 0.30 over 3 years, 0.53 over 1 year and 0.23 over 5 years.
Is PAM a good diversifier for MNOV?
A fair diversifier. At 0.30, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.30 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/mnov-vs-pam.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mnov-vs-pam/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MNOV correlations · PAM correlations
