MVST vs PULM: Correlation
How closely do Microvast Holdings, Inc. (MVST) and Pulmatrix, Inc. (PULM) trade together? Their weekly returns over three years give a correlation of 0.74, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MVST and PULM?
Over the past 3 years, MVST and PULM moved with a correlation of 0.74, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.03 versus 0.74 over 3 years. Over 5 years the correlation is 0.66, and the annualized covariance of weekly returns is 22316.3 %².
Few assets follow MVST as closely as PULM, which ranks #2 of 41 tracked partners. Their 12-month results are close: -71.2% for MVST against -68.7% for PULM.
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.
MVST vs PULM: side by side
| MVST (Microvast Holdings, Inc.) | PULM (Pulmatrix, Inc.) | |
|---|---|---|
| 1-year return | -71.2% | -68.7% |
| 5-year return | -91.6% | -90.6% |
| Volatility (ann.) | 209.2% | 144.8% |
| Beta vs S&P 500 | 0.26 | -0.18 |
| Max drawdown (3Y) | -92.8% | -88.1% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MVST | PULM |
|---|---|---|
| 2022 | -73.0% | -55.7% |
| 2023 | -8.5% | -52.1% |
| 2024 | +47.9% | +275.3% |
| 2025 | +35.3% | -68.1% |
| 2026 | -72.5% | -31.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MVST and PULM good diversifiers for each other?
Somewhat, no more. With 0.74 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MVST and PULM?
As of 2026-08-27, the correlation of weekly returns between MVST and PULM is 0.74 over 3 years, 0.03 over 1 year and 0.66 over 5 years.
Is PULM a good diversifier for MVST?
Somewhat, no more. With 0.74 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.74 mean?
A reading of 0.74 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/mvst-vs-pulm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mvst-vs-pulm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MVST correlations · PULM correlations
