GBAB vs MNDR: Correlation
Guggenheim Taxable Municipal Bond & Investment Grade Debt (GBAB) and Mobile-health Network Solutions - Class A (MNDR) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GBAB and MNDR?
On 3 years of weekly data the GBAB/MNDR correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.34) than the 3-year average (-0.23). The 5-year figure is n/a, and annualized covariance runs at -438.5 %².
Among the 11 assets we track against GBAB, MNDR sits near the bottom by co-movement, at rank #10. Correlation aside, the last 12 months split them widely, with GBAB ahead by 93.9 points (-1.0% versus -94.9%). Note the risk asymmetry: MNDR runs 12.0 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.
GBAB vs MNDR: side by side
| GBAB (Guggenheim Taxable Municipal Bond & Investment Grade Debt) | MNDR (Mobile-health Network Solutions - Class A) | |
|---|---|---|
| 1-year return | -1.0% | -94.9% |
| 5-year return | -11.9% | n/a |
| Volatility (ann.) | 13.5% | 161.8% |
| Beta vs S&P 500 | 0.20 | -0.61 |
| Max drawdown (3Y) | -17.3% | -100.0% |
| Market cap | $0.4B | – |
| P/E (trailing) | 11.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GBAB | MNDR |
|---|---|---|
| 2022 | -25.1% | – |
| 2023 | +8.6% | – |
| 2024 | +2.9% | – |
| 2025 | +8.4% | -93.0% |
| 2026 | -0.6% | -68.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GBAB and MNDR good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GBAB and MNDR?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.34 over the last year and n/a over 5 years.
Is MNDR a good diversifier for GBAB?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
A reading of -0.23 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/gbab-vs-mndr.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gbab-vs-mndr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GBAB correlations · MNDR correlations
