MRNA vs MRVI: Correlation
Measured on weekly returns over the past three years, Moderna (MRNA) and Maravai LifeSciences Holdings, Inc. (MRVI) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MRNA and MRVI?
Over the past 3 years, MRNA and MRVI moved with a correlation of 0.53, which is moderate. Recent behaviour matches the longer record: 0.61 over 1 year against 0.53 over 3. Over 5 years the correlation is 0.50, and the annualized covariance of weekly returns is 4558.6 %².
In MRNA's tracked universe of 38 assets, MRVI sits right near the top at #3. Correlation aside, the last 12 months split them widely, with MRNA ahead by 209.6 points (+468.8% versus +259.2%).
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.
MRNA vs MRVI: side by side
| MRNA (Moderna) | MRVI (Maravai LifeSciences Holdings, Inc.) | |
|---|---|---|
| 1-year return | +468.8% | +259.2% |
| 5-year return | -61.5% | -86.0% |
| Volatility (ann.) | 100.7% | 85.9% |
| Beta vs S&P 500 | 0.98 | 1.35 |
| Max drawdown (3Y) | -86.6% | -84.8% |
| Market cap | $57.0B | $3.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | MRNA | MRVI |
|---|---|---|
| 2022 | -29.3% | -65.8% |
| 2023 | -44.6% | -54.2% |
| 2024 | -58.2% | -16.8% |
| 2025 | -29.1% | -40.4% |
| 2026 | +384.1% | +157.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MRNA and MRVI good diversifiers for each other?
Only partially. A correlation of 0.53 means MRNA and MRVI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between MRNA and MRVI?
As of 2026-08-27, the correlation of weekly returns between MRNA and MRVI is 0.53 over 3 years, 0.61 over 1 year and 0.50 over 5 years.
Is MRVI a good diversifier for MRNA?
Only partially. A correlation of 0.53 means MRNA and MRVI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.53 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mrna-vs-mrvi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mrna-vs-mrvi/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MRNA correlations · MRVI correlations
