MRDN vs PODD: Correlation
Meridian Holdings Inc. (MRDN) and Insulet Corporation (PODD) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MRDN and PODD?
Over the past 3 years, MRDN and PODD moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.41 versus -0.22 over 3 years. Over 5 years the correlation is -0.11, and the annualized covariance of weekly returns is -771.0 %².
PODD is close to the least connected end of MRDN's tracked universe, ranking #9 of 11. Their recent paths diverged sharply: over the last 12 months MRDN outperformed by 47.5 percentage points (-9.6% for MRDN against -57.1% for PODD). 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 PODD: side by side
| MRDN (Meridian Holdings Inc.) | PODD (Insulet Corporation) | |
|---|---|---|
| 1-year return | -9.6% | -57.1% |
| 5-year return | -82.1% | -51.6% |
| Volatility (ann.) | 89.9% | 38.9% |
| Beta vs S&P 500 | 0.53 | 0.67 |
| Max drawdown (3Y) | -91.7% | -62.2% |
| Market cap | $0.2B | $9.9B |
| P/E (trailing) | – | 26.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | MRDN | PODD |
|---|---|---|
| 2022 | -60.4% | +10.6% |
| 2023 | -5.1% | -26.3% |
| 2024 | -17.8% | +20.3% |
| 2025 | -59.5% | +8.9% |
| 2026 | +45.7% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MRDN and PODD good diversifiers for each other?
Yes. With a correlation of -0.22, MRDN and PODD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MRDN and PODD?
As of 2026-08-27, the correlation of weekly returns between MRDN and PODD is -0.22 over 3 years, -0.41 over 1 year and -0.11 over 5 years.
Is PODD a good diversifier for MRDN?
Yes. With a correlation of -0.22, MRDN and PODD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
A reading of -0.22 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mrdn-vs-podd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mrdn-vs-podd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MRDN correlations · PODD correlations
