HERZ vs MNDR: Correlation
How closely do Herzfeld Credit Income Fund, Inc. - Closed End Fund (HERZ) and Mobile-health Network Solutions - Class A (MNDR) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HERZ and MNDR?
On 3 years of weekly data the HERZ/MNDR correlation comes out at 0.46, moderate. The past 12 months show a tighter link (0.71) than the 3-year average (0.46). The 5-year figure is n/a, and annualized covariance runs at 2728.7 %².
Few assets follow HERZ as closely as MNDR, which ranks #3 of 19 tracked partners. The last year tells two different stories: HERZ led by 116.9 percentage points, +22.0% for HERZ against -94.9% for MNDR. Note the risk asymmetry: MNDR runs 4.6 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.
HERZ vs MNDR: side by side
| HERZ (Herzfeld Credit Income Fund, Inc. - Closed End Fund) | MNDR (Mobile-health Network Solutions - Class A) | |
|---|---|---|
| 1-year return | +22.0% | -94.9% |
| 5-year return | +1.5% | n/a |
| Volatility (ann.) | 35.4% | 161.8% |
| Beta vs S&P 500 | 0.10 | -0.61 |
| Max drawdown (3Y) | -41.6% | -100.0% |
| Market cap | – | – |
| P/E (trailing) | 80.0 | – |
| Dividend yield | 57.89% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HERZ | MNDR |
|---|---|---|
| 2022 | -20.4% | – |
| 2023 | -13.6% | – |
| 2024 | +2.9% | – |
| 2025 | +89.3% | -93.0% |
| 2026 | -24.3% | -68.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HERZ and MNDR good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HERZ and MNDR?
The HERZ/MNDR correlation stands at 0.46 on a 3-year window (1 year: 0.71, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is MNDR a good diversifier for HERZ?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 mean?
On the −1 to +1 scale, 0.46 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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[](https://www.pairbook.io/pair/herz-vs-mndr/)
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Related comparisons
Hubs: HERZ correlations · MNDR correlations
