MRDN vs PLNT: Correlation
How closely do Meridian Holdings Inc. (MRDN) and Planet Fitness, Inc. (PLNT) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MRDN and PLNT?
Over the past 3 years, MRDN and PLNT moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.38) than the 3-year average (-0.25). Over 5 years the correlation is -0.08, and the annualized covariance of weekly returns is -876.5 %².
Among the 11 assets we track against MRDN, PLNT sits near the bottom by co-movement, at rank #10. The last year tells two different stories: MRDN led by 41.5 percentage points, -9.6% for MRDN against -51.1% for PLNT. Note the risk asymmetry: MRDN runs 2.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
MRDN vs PLNT: side by side
| MRDN (Meridian Holdings Inc.) | PLNT (Planet Fitness, Inc.) | |
|---|---|---|
| 1-year return | -9.6% | -51.1% |
| 5-year return | -82.1% | -36.6% |
| Volatility (ann.) | 89.9% | 39.0% |
| Beta vs S&P 500 | 0.53 | 0.42 |
| Max drawdown (3Y) | -91.7% | -61.2% |
| Market cap | $0.2B | $3.9B |
| P/E (trailing) | – | 17.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MRDN | PLNT |
|---|---|---|
| 2022 | -60.4% | -13.0% |
| 2023 | -5.1% | -7.4% |
| 2024 | -17.8% | +35.4% |
| 2025 | -59.5% | +9.7% |
| 2026 | +45.7% | -52.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MRDN and PLNT good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between MRDN and PLNT?
The MRDN/PLNT correlation stands at -0.25 on a 3-year window (1 year: -0.38, 5 years: -0.08), computed from weekly returns as of 2026-08-27.
Is PLNT a good diversifier for MRDN?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mrdn-vs-plnt.json
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Related comparisons
Hubs: MRDN correlations · PLNT correlations
