PMN vs PNFP: Correlation
ProMIS Neurosciences Inc. (PMN) and Pinnacle Financial Partners, Inc. (PNFP) show a negative relationship: their 3-year correlation of weekly returns is -0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PMN and PNFP?
On 3 years of weekly data the PMN/PNFP correlation comes out at -0.28, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.23 over 1 year against -0.28 over 3. The 5-year figure is -0.11, and annualized covariance runs at -1210.4 %².
Out of 15 assets tracked against PMN, PNFP lands near the bottom at #13. Their 12-month results are close: +5.6% for PMN against +6.4% for PNFP. Note the risk asymmetry: PMN runs 3.5 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.
PMN vs PNFP: side by side
| PMN (ProMIS Neurosciences Inc.) | PNFP (Pinnacle Financial Partners, Inc.) | |
|---|---|---|
| 1-year return | +5.6% | +6.4% |
| 5-year return | -94.2% | +12.0% |
| Volatility (ann.) | 122.6% | 35.3% |
| Beta vs S&P 500 | 0.45 | 1.22 |
| Max drawdown (3Y) | -90.4% | -35.8% |
| Market cap | $0.1B | $15.3B |
| P/E (trailing) | – | 13.9 |
| Dividend yield | 0.00% | 1.46% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PMN | PNFP |
|---|---|---|
| 2022 | -34.2% | -22.3% |
| 2023 | -73.5% | +20.5% |
| 2024 | -17.4% | +32.4% |
| 2025 | -71.2% | -15.8% |
| 2026 | +104.8% | +7.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PMN and PNFP good diversifiers for each other?
Yes. With a correlation of -0.28, PMN and PNFP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PMN and PNFP?
Using weekly returns as of 2026-08-27: -0.28 over 3 years, with -0.23 over the last year and -0.11 over 5 years.
Is PNFP a good diversifier for PMN?
Yes. With a correlation of -0.28, PMN and PNFP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 mean?
A reading of -0.28 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: PMN correlations · PNFP correlations
