OTIS vs PMN: Correlation
Otis Worldwide (OTIS) and ProMIS Neurosciences Inc. (PMN) show a negative relationship: their 3-year correlation of weekly returns is -0.18.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OTIS and PMN?
On 3 years of weekly data the OTIS/PMN correlation comes out at -0.18, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.01) runs above the 3-year figure (-0.18). The 5-year figure is -0.08, and annualized covariance runs at -411.3 %².
Among the 31 assets we track against OTIS, PMN ranks #25 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PMN outperformed by 22.4 percentage points (-16.8% for OTIS against +5.6% for PMN). Note the risk asymmetry: PMN runs 6.4 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
OTIS vs PMN: side by side
| OTIS (Otis Worldwide) | PMN (ProMIS Neurosciences Inc.) | |
|---|---|---|
| 1-year return | -16.8% | +5.6% |
| 5-year return | -15.9% | -94.2% |
| Volatility (ann.) | 19.1% | 122.6% |
| Beta vs S&P 500 | 0.59 | 0.45 |
| Max drawdown (3Y) | -32.4% | -90.4% |
| Market cap | $27.2B | $0.1B |
| P/E (trailing) | 18.4 | – |
| Dividend yield | 2.35% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | OTIS | PMN |
|---|---|---|
| 2022 | -8.8% | -34.2% |
| 2023 | +16.0% | -73.5% |
| 2024 | +5.2% | -17.4% |
| 2025 | -4.0% | -71.2% |
| 2026 | -16.8% | +104.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OTIS and PMN good diversifiers for each other?
Yes. With a correlation of -0.18, OTIS and PMN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between OTIS and PMN?
Using weekly returns as of 2026-08-27: -0.18 over 3 years, with -0.01 over the last year and -0.08 over 5 years.
Is PMN a good diversifier for OTIS?
Yes. With a correlation of -0.18, OTIS and PMN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.18 mean?
A reading of -0.18 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/otis-vs-pmn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/otis-vs-pmn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: OTIS correlations · PMN correlations
