CMND vs EVI: Correlation
Measured on weekly returns over the past three years, Clearmind Medicine Inc. (CMND) and EVI Industries, Inc. (EVI) carry a correlation of 0.27, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMND and EVI?
On 3 years of weekly data the CMND/EVI correlation comes out at 0.27, weak. The relationship has been stable: the 1-year correlation (0.32) sits close to the 3-year figure. The 5-year figure is 0.16, and annualized covariance runs at 1682.0 %².
Within CMND's tracked universe of 10 assets, EVI comes in at #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months EVI outperformed by 53.6 percentage points (-99.6% for CMND against -46.0% for EVI). Note the risk asymmetry: CMND runs 2.4 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.
CMND vs EVI: side by side
| CMND (Clearmind Medicine Inc.) | EVI (EVI Industries, Inc.) | |
|---|---|---|
| 1-year return | -99.6% | -46.0% |
| 5-year return | n/a | -38.2% |
| Volatility (ann.) | 122.3% | 50.2% |
| Beta vs S&P 500 | 1.24 | 1.05 |
| Max drawdown (3Y) | -100.0% | -59.0% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | 32.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CMND | EVI |
|---|---|---|
| 2022 | – | -23.6% |
| 2023 | -97.0% | +0.5% |
| 2024 | -50.9% | -30.0% |
| 2025 | -96.7% | +52.2% |
| 2026 | -90.0% | -40.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMND and EVI good diversifiers for each other?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CMND and EVI?
Using weekly returns as of 2026-08-27: 0.27 over 3 years, with 0.32 over the last year and 0.16 over 5 years.
Is EVI a good diversifier for CMND?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.27 mean?
A reading of 0.27 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cmnd-vs-evi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cmnd-vs-evi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CMND correlations · EVI correlations
