MNOV vs PCVX: Correlation
Measured on weekly returns over the past three years, MediciNova, Inc. (MNOV) and Vaxcyte, Inc. (PCVX) carry a correlation of 0.30, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MNOV and PCVX?
Across a 3-year window, the weekly returns of MNOV and PCVX correlate at 0.30, moderate. Recent behaviour matches the longer record: 0.33 over 1 year against 0.30 over 3. Stretching to 5 years gives 0.21, with an annualized covariance of 999.8 %².
Within MNOV's tracked universe of 11 assets, PCVX comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PCVX ahead by 94.2 points (+6.0% versus +100.2%).
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 PCVX: side by side
| MNOV (MediciNova, Inc.) | PCVX (Vaxcyte, Inc.) | |
|---|---|---|
| 1-year return | +6.0% | +100.2% |
| 5-year return | -62.8% | +130.8% |
| Volatility (ann.) | 57.3% | 57.9% |
| Beta vs S&P 500 | 0.17 | 1.40 |
| Max drawdown (3Y) | -53.7% | -76.2% |
| Market cap | $0.1B | $9.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MNOV | PCVX |
|---|---|---|
| 2022 | -23.5% | +101.6% |
| 2023 | -26.8% | +31.0% |
| 2024 | +40.0% | +30.4% |
| 2025 | -37.6% | -43.6% |
| 2026 | +8.4% | +32.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MNOV and PCVX good diversifiers for each other?
Reasonably. At 0.30, MNOV and PCVX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MNOV and PCVX?
The MNOV/PCVX correlation stands at 0.30 on a 3-year window (1 year: 0.33, 5 years: 0.21), computed from weekly returns as of 2026-08-27.
Is PCVX a good diversifier for MNOV?
Reasonably. At 0.30, MNOV and PCVX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
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-pcvx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mnov-vs-pcvx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MNOV correlations · PCVX correlations
