MNOV vs PRHI: Correlation
How closely do MediciNova, Inc. (MNOV) and Presurance Holdings, Inc. (PRHI) trade together? Their weekly returns over three years give a correlation of 0.34, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MNOV and PRHI?
Across a 3-year window, the weekly returns of MNOV and PRHI correlate at 0.34, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.04 versus 0.34 over 3 years. Stretching to 5 years gives 0.29, with an annualized covariance of 2351.0 %².
Few assets follow MNOV as closely as PRHI, which ranks #2 of 11 tracked partners. Their recent paths diverged sharply: over the last 12 months PRHI outperformed by 15.0 percentage points (+6.0% for MNOV against +21.0% for PRHI). One caveat on sizing: PRHI is 2.1 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.
MNOV vs PRHI: side by side
| MNOV (MediciNova, Inc.) | PRHI (Presurance Holdings, Inc.) | |
|---|---|---|
| 1-year return | +6.0% | +21.0% |
| 5-year return | -62.8% | -77.0% |
| Volatility (ann.) | 57.3% | 122.6% |
| Beta vs S&P 500 | 0.17 | 0.03 |
| Max drawdown (3Y) | -53.7% | -76.4% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MNOV | PRHI |
|---|---|---|
| 2022 | -23.5% | -32.3% |
| 2023 | -26.8% | -29.9% |
| 2024 | +40.0% | +6.4% |
| 2025 | -37.6% | -39.1% |
| 2026 | +8.4% | +34.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MNOV and PRHI good diversifiers for each other?
Reasonably. At 0.34, MNOV and PRHI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MNOV and PRHI?
Using weekly returns as of 2026-08-27: 0.34 over 3 years, with 0.04 over the last year and 0.29 over 5 years.
Is PRHI a good diversifier for MNOV?
Reasonably. At 0.34, MNOV and PRHI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.34 mean?
A reading of 0.34 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: MNOV correlations · PRHI correlations
