PULM vs VHI: Correlation
Measured on weekly returns over the past three years, Pulmatrix, Inc. (PULM) and Valhi, Inc. (VHI) carry a correlation of -0.37, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PULM and VHI?
Over the past 3 years, PULM and VHI moved with a correlation of -0.37, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.03 versus -0.37 over 3 years. Over 5 years the correlation is -0.26, and the annualized covariance of weekly returns is -3139.2 %².
VHI is close to the least connected end of PULM's tracked universe, ranking #37 of 37. Correlation aside, the last 12 months split them widely, with VHI ahead by 75.8 points (-68.7% versus +7.1%). Risk is not evenly split, since PULM carries 2.4 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.
PULM vs VHI: side by side
| PULM (Pulmatrix, Inc.) | VHI (Valhi, Inc.) | |
|---|---|---|
| 1-year return | -68.7% | +7.1% |
| 5-year return | -90.6% | -14.8% |
| Volatility (ann.) | 144.8% | 59.4% |
| Beta vs S&P 500 | -0.18 | 1.08 |
| Max drawdown (3Y) | -88.1% | -71.3% |
| Market cap | – | $0.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.74% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PULM | VHI |
|---|---|---|
| 2022 | -55.7% | -22.7% |
| 2023 | -52.1% | -29.4% |
| 2024 | +275.3% | +56.5% |
| 2025 | -68.1% | -47.4% |
| 2026 | -31.8% | +49.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PULM and VHI good diversifiers for each other?
Yes. With a correlation of -0.37, PULM and VHI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PULM and VHI?
As of 2026-08-27, the correlation of weekly returns between PULM and VHI is -0.37 over 3 years, 0.03 over 1 year and -0.26 over 5 years.
Is VHI a good diversifier for PULM?
Yes. With a correlation of -0.37, PULM and VHI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.37 mean?
On the −1 to +1 scale, -0.37 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/pulm-vs-vhi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pulm-vs-vhi/)
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Related comparisons
Hubs: PULM correlations · VHI correlations
