MRDN vs WING: Correlation
Meridian Holdings Inc. (MRDN) and Wingstop Inc. (WING) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MRDN and WING?
On 3 years of weekly data the MRDN/WING correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.33 over 1 year against -0.25 over 3. The 5-year figure is -0.17, and annualized covariance runs at -1219.9 %².
Out of 11 assets tracked against MRDN, WING lands near the bottom at #11. The last year tells two different stories: MRDN led by 57.7 percentage points, -9.6% for MRDN against -67.3% for WING. Risk is not evenly split, since MRDN carries 1.6 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.
MRDN vs WING: side by side
| MRDN (Meridian Holdings Inc.) | WING (Wingstop Inc.) | |
|---|---|---|
| 1-year return | -9.6% | -67.3% |
| 5-year return | -82.1% | -31.4% |
| Volatility (ann.) | 89.9% | 55.1% |
| Beta vs S&P 500 | 0.53 | 1.29 |
| Max drawdown (3Y) | -91.7% | -74.0% |
| Market cap | $0.2B | $3.0B |
| P/E (trailing) | – | 26.5 |
| Dividend yield | 0.00% | 1.07% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MRDN | WING |
|---|---|---|
| 2022 | -60.4% | -17.1% |
| 2023 | -5.1% | +87.3% |
| 2024 | -17.8% | +11.1% |
| 2025 | -59.5% | -15.7% |
| 2026 | +45.7% | -53.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MRDN and WING good diversifiers for each other?
Yes. With a correlation of -0.25, MRDN and WING have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MRDN and WING?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.33 over the last year and -0.17 over 5 years.
Is WING a good diversifier for MRDN?
Yes. With a correlation of -0.25, MRDN and WING have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 mean?
A reading of -0.25 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-wing.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mrdn-vs-wing/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MRDN correlations · WING correlations
