ARDX vs MNDR: Correlation
How closely do Ardelyx, Inc. (ARDX) and Mobile-health Network Solutions - Class A (MNDR) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARDX and MNDR?
On 3 years of weekly data the ARDX/MNDR correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.15 lands near the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -2340.6 %².
Out of 11 assets tracked against ARDX, MNDR lands near the bottom at #10. Correlation aside, the last 12 months split them widely, with ARDX ahead by 56.6 points (-38.3% versus -94.9%). Risk is not evenly split, since MNDR carries 2.3 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.
ARDX vs MNDR: side by side
| ARDX (Ardelyx, Inc.) | MNDR (Mobile-health Network Solutions - Class A) | |
|---|---|---|
| 1-year return | -38.3% | -94.9% |
| 5-year return | +165.3% | n/a |
| Volatility (ann.) | 70.9% | 161.8% |
| Beta vs S&P 500 | 1.03 | -0.61 |
| Max drawdown (3Y) | -66.3% | -100.0% |
| Market cap | $1.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARDX | MNDR |
|---|---|---|
| 2022 | +159.1% | – |
| 2023 | +117.5% | – |
| 2024 | -18.2% | – |
| 2025 | +15.0% | -93.0% |
| 2026 | -34.5% | -68.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARDX and MNDR good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ARDX and MNDR?
The ARDX/MNDR correlation stands at -0.22 on a 3-year window (1 year: -0.15, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is MNDR a good diversifier for ARDX?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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/ardx-vs-mndr.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ardx-vs-mndr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ARDX correlations · MNDR correlations
