MNOV vs WHLR: Correlation
How closely do MediciNova, Inc. (MNOV) and Wheeler Real Estate Investment Trust, Inc. (WHLR) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MNOV and WHLR?
Over the past 3 years, MNOV and WHLR moved with a correlation of 0.40, which is moderate. The link has loosened recently: the 1-year correlation (0.22) runs below the 3-year figure (0.40). Over 5 years the correlation is 0.35, and the annualized covariance of weekly returns is 12509.2 %².
Few assets follow MNOV as closely as WHLR, which ranks #1 of 11 tracked partners. The last year tells two different stories: MNOV led by 106.0 percentage points, +6.0% for MNOV against -100.0% for WHLR. Risk is not evenly split, since WHLR carries 9.5 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.
MNOV vs WHLR: side by side
| MNOV (MediciNova, Inc.) | WHLR (Wheeler Real Estate Investment Trust, Inc.) | |
|---|---|---|
| 1-year return | +6.0% | -100.0% |
| 5-year return | -62.8% | -100.0% |
| Volatility (ann.) | 57.3% | 545.0% |
| Beta vs S&P 500 | 0.17 | -5.84 |
| Max drawdown (3Y) | -53.7% | -100.0% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | 0.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MNOV | WHLR |
|---|---|---|
| 2022 | -23.5% | -28.0% |
| 2023 | -26.8% | -98.4% |
| 2024 | +40.0% | -98.4% |
| 2025 | -37.6% | -100.0% |
| 2026 | +8.4% | -99.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MNOV and WHLR good diversifiers for each other?
Reasonably. At 0.40, MNOV and WHLR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MNOV and WHLR?
As of 2026-08-27, the correlation of weekly returns between MNOV and WHLR is 0.40 over 3 years, 0.22 over 1 year and 0.35 over 5 years.
Is WHLR a good diversifier for MNOV?
Reasonably. At 0.40, MNOV and WHLR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: MNOV correlations · WHLR correlations
