ANET vs MNDR: Correlation
Arista Networks (ANET) and Mobile-health Network Solutions - Class A (MNDR) show a negative relationship: their 3-year correlation of weekly returns is -0.16.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANET and MNDR?
Over the past 3 years, ANET and MNDR moved with a correlation of -0.16, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.22) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -1327.1 %².
By 3-year correlation, MNDR places #30 of the 35 assets tracked against ANET. Their recent paths diverged sharply: over the last 12 months ANET outperformed by 145.8 percentage points (+50.9% for ANET against -94.9% for MNDR). Risk is not evenly split, since MNDR carries 3.3 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.
ANET vs MNDR: side by side
| ANET (Arista Networks) | MNDR (Mobile-health Network Solutions - Class A) | |
|---|---|---|
| 1-year return | +50.9% | -94.9% |
| 5-year return | +764.7% | n/a |
| Volatility (ann.) | 49.3% | 161.8% |
| Beta vs S&P 500 | 2.20 | -0.61 |
| Max drawdown (3Y) | -50.4% | -100.0% |
| Market cap | $253.6B | – |
| P/E (trailing) | 64.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | ANET | MNDR |
|---|---|---|
| 2022 | -15.6% | – |
| 2023 | +94.1% | – |
| 2024 | +87.7% | – |
| 2025 | +18.5% | -93.0% |
| 2026 | +53.5% | -68.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANET and MNDR good diversifiers for each other?
Yes. With a correlation of -0.16, ANET and MNDR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ANET and MNDR?
Using weekly returns as of 2026-08-27: -0.16 over 3 years, with -0.22 over the last year and n/a over 5 years.
Is MNDR a good diversifier for ANET?
Yes. With a correlation of -0.16, ANET and MNDR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.16 mean?
On the −1 to +1 scale, -0.16 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/anet-vs-mndr.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/anet-vs-mndr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ANET correlations · MNDR correlations
