MRNA vs PFE: Correlation
Measured on weekly returns over the past three years, Moderna (MRNA) and Pfizer (PFE) carry a correlation of 0.33, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MRNA and PFE?
Across a 3-year window, the weekly returns of MRNA and PFE correlate at 0.33, moderate. The past 12 months show a weaker link (0.22) than the 3-year average (0.33). Stretching to 5 years gives 0.33, with an annualized covariance of 794.7 %².
Among the 38 assets we track against MRNA, PFE ranks #24 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months MRNA outperformed by 449.2 percentage points (+468.8% for MRNA against +19.6% for PFE). On a rolling one-year basis the correlation drifted between 0.15 and 0.62, a moderate band. Risk is not evenly split, since MRNA carries 4.2 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.
MRNA vs PFE: side by side
| MRNA (Moderna) | PFE (Pfizer) | |
|---|---|---|
| 1-year return | +468.8% | +19.6% |
| 5-year return | -61.5% | -21.9% |
| Volatility (ann.) | 100.7% | 23.8% |
| Beta vs S&P 500 | 0.98 | 0.40 |
| Max drawdown (3Y) | -86.6% | -34.8% |
| Market cap | $57.0B | $159.7B |
| P/E (trailing) | – | 37.4 |
| Dividend yield | 0.00% | 6.08% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | MRNA | PFE |
|---|---|---|
| 2022 | -29.3% | -10.4% |
| 2023 | -44.6% | -41.3% |
| 2024 | -58.2% | -2.2% |
| 2025 | -29.1% | +0.6% |
| 2026 | +384.1% | +18.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MRNA and PFE good diversifiers for each other?
Reasonably. At 0.33, MRNA and PFE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MRNA and PFE?
As of 2026-08-27, the correlation of weekly returns between MRNA and PFE is 0.33 over 3 years, 0.22 over 1 year and 0.33 over 5 years.
Is PFE a good diversifier for MRNA?
Reasonably. At 0.33, MRNA and PFE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.33 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-pfe.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: MRNA correlations · PFE correlations
