ES vs MNDR: Correlation
Measured on weekly returns over the past three years, Eversource Energy (ES) and Mobile-health Network Solutions - Class A (MNDR) carry a correlation of -0.29, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ES and MNDR?
Over the past 3 years, ES and MNDR moved with a correlation of -0.29, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.55) than the 3-year average (-0.29). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -1012.6 %².
Among the 28 assets we track against ES, MNDR sits near the bottom by co-movement, at rank #27. Their recent paths diverged sharply: over the last 12 months ES outperformed by 109.4 percentage points (+14.5% for ES against -94.9% for MNDR). Risk is not evenly split, since MNDR carries 7.1 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.
ES vs MNDR: side by side
| ES (Eversource Energy) | MNDR (Mobile-health Network Solutions - Class A) | |
|---|---|---|
| 1-year return | +14.5% | -94.9% |
| 5-year return | -5.0% | n/a |
| Volatility (ann.) | 22.9% | 161.8% |
| Beta vs S&P 500 | 0.20 | -0.61 |
| Max drawdown (3Y) | -18.8% | -100.0% |
| Market cap | $26.7B | – |
| P/E (trailing) | 18.6 | – |
| Dividend yield | 4.30% | 0.00% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | ES | MNDR |
|---|---|---|
| 2022 | -5.1% | – |
| 2023 | -23.4% | – |
| 2024 | -2.5% | – |
| 2025 | +22.9% | -93.0% |
| 2026 | +7.7% | -68.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ES and MNDR good diversifiers for each other?
Yes. With a correlation of -0.29, ES and MNDR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ES and MNDR?
The ES/MNDR correlation stands at -0.29 on a 3-year window (1 year: -0.55, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is MNDR a good diversifier for ES?
Yes. With a correlation of -0.29, ES and MNDR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.29 mean?
A reading of -0.29 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ES correlations · MNDR correlations
