MTNB vs TLS: Correlation
How closely do Matinas Biopharma Holdings, Inc. (MTNB) and Telos Corporation (TLS) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTNB and TLS?
On 3 years of weekly data the MTNB/TLS correlation comes out at 0.46, moderate. The past 12 months show a weaker link (0.32) than the 3-year average (0.46). The 5-year figure is 0.34, and annualized covariance runs at 6104.8 %².
In MTNB's tracked universe of 10 assets, TLS sits right near the top at #1. The last year tells two different stories: TLS led by 72.6 percentage points, -89.9% for MTNB against -17.3% for TLS.
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.
MTNB vs TLS: side by side
| MTNB (Matinas Biopharma Holdings, Inc.) | TLS (Telos Corporation) | |
|---|---|---|
| 1-year return | -89.9% | -17.3% |
| 5-year return | -99.5% | -85.1% |
| Volatility (ann.) | 120.2% | 110.3% |
| Beta vs S&P 500 | 1.73 | 2.54 |
| Max drawdown (3Y) | -99.4% | -58.3% |
| Market cap | – | $0.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MTNB | TLS |
|---|---|---|
| 2022 | -50.5% | -67.0% |
| 2023 | -56.8% | -28.3% |
| 2024 | -95.3% | -6.3% |
| 2025 | +14.9% | +49.1% |
| 2026 | -65.9% | -5.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTNB and TLS good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MTNB and TLS?
Using weekly returns as of 2026-08-27: 0.46 over 3 years, with 0.32 over the last year and 0.34 over 5 years.
Is TLS a good diversifier for MTNB?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 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.
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Related comparisons
Hubs: MTNB correlations · TLS correlations
