CDRO vs MNPR: Correlation
How closely do Codere Online Luxembourg, S.A. (CDRO) and Monopar Therapeutics Inc. (MNPR) trade together? Their weekly returns over three years give a correlation of 0.35, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDRO and MNPR?
Across a 3-year window, the weekly returns of CDRO and MNPR correlate at 0.35, moderate. The past 12 months show a weaker link (-0.18) than the 3-year average (0.35). Stretching to 5 years gives 0.20, with an annualized covariance of 3471.0 %².
MNPR is one of the assets that tracks CDRO most closely: it ranks #2 out of the 10 assets we track against CDRO. Their recent paths diverged sharply: over the last 12 months MNPR outperformed by 218.7 percentage points (+8.6% for CDRO against +227.3% for MNPR). One caveat on sizing: MNPR is 5.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CDRO vs MNPR: side by side
| CDRO (Codere Online Luxembourg, S.A.) | MNPR (Monopar Therapeutics Inc.) | |
|---|---|---|
| 1-year return | +8.6% | +227.3% |
| 5-year return | -9.1% | +365.1% |
| Volatility (ann.) | 44.5% | 225.0% |
| Beta vs S&P 500 | 0.65 | 1.74 |
| Max drawdown (3Y) | -37.6% | -67.3% |
| Market cap | $0.4B | $0.8B |
| P/E (trailing) | 225.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CDRO | MNPR |
|---|---|---|
| 2022 | -57.1% | -26.2% |
| 2023 | +14.0% | -85.7% |
| 2024 | +119.4% | +1194.1% |
| 2025 | +24.5% | +196.8% |
| 2026 | +12.1% | +74.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CDRO and MNPR good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CDRO and MNPR?
Using weekly returns as of 2026-08-27: 0.35 over 3 years, with -0.18 over the last year and 0.20 over 5 years.
Is MNPR a good diversifier for CDRO?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: CDRO correlations · MNPR correlations
