CVNA vs MNDR: Correlation
Measured on weekly returns over the past three years, Carvana (CVNA) and Mobile-health Network Solutions - Class A (MNDR) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVNA and MNDR?
Across a 3-year window, the weekly returns of CVNA and MNDR correlate at -0.21, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.11) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -2387.3 %².
Among the 35 assets we track against CVNA, MNDR sits near the bottom by co-movement, at rank #31. Their recent paths diverged sharply: over the last 12 months CVNA outperformed by 95.7 percentage points (+0.8% for CVNA against -94.9% for MNDR). Risk is not evenly split, since MNDR carries 2.2 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.
CVNA vs MNDR: side by side
| CVNA (Carvana) | MNDR (Mobile-health Network Solutions - Class A) | |
|---|---|---|
| 1-year return | +0.8% | -94.9% |
| 5-year return | +9.7% | n/a |
| Volatility (ann.) | 73.7% | 161.8% |
| Beta vs S&P 500 | 2.66 | -0.61 |
| Max drawdown (3Y) | -53.5% | -100.0% |
| Market cap | $82.1B | – |
| P/E (trailing) | 39.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | CVNA | MNDR |
|---|---|---|
| 2022 | -98.0% | – |
| 2023 | +1016.9% | – |
| 2024 | +284.1% | – |
| 2025 | +107.5% | -93.0% |
| 2026 | -12.2% | -68.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVNA and MNDR good diversifiers for each other?
Yes. With a correlation of -0.21, CVNA and MNDR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CVNA and MNDR?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.11 over the last year and n/a over 5 years.
Is MNDR a good diversifier for CVNA?
Yes. With a correlation of -0.21, CVNA and MNDR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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
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Related comparisons
Hubs: CVNA correlations · MNDR correlations
