HTO vs MNDR: Correlation
H2O America (HTO) and Mobile-health Network Solutions - Class A (MNDR) show a negative relationship: their 3-year correlation of weekly returns is -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HTO and MNDR?
Across a 3-year window, the weekly returns of HTO and MNDR correlate at -0.20, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.32 versus -0.20 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of -781.4 %².
Out of 13 assets tracked against HTO, MNDR lands near the bottom at #11. Correlation aside, the last 12 months split them widely, with HTO ahead by 122.8 points (+27.9% versus -94.9%). Note the risk asymmetry: MNDR runs 6.7 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.
HTO vs MNDR: side by side
| HTO (H2O America) | MNDR (Mobile-health Network Solutions - Class A) | |
|---|---|---|
| 1-year return | +27.9% | -94.9% |
| 5-year return | +4.2% | n/a |
| Volatility (ann.) | 24.2% | 161.8% |
| Beta vs S&P 500 | 0.14 | -0.61 |
| Max drawdown (3Y) | -32.4% | -100.0% |
| Market cap | $2.6B | – |
| P/E (trailing) | 22.5 | – |
| Dividend yield | 2.70% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HTO | MNDR |
|---|---|---|
| 2022 | +13.4% | – |
| 2023 | -17.8% | – |
| 2024 | -22.6% | – |
| 2025 | +2.9% | -93.0% |
| 2026 | +31.8% | -68.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HTO and MNDR good diversifiers for each other?
Yes. With a correlation of -0.20, HTO and MNDR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HTO and MNDR?
The HTO/MNDR correlation stands at -0.20 on a 3-year window (1 year: -0.32, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is MNDR a good diversifier for HTO?
Yes. With a correlation of -0.20, HTO and MNDR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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
$ curl https://www.pairbook.io/api/v1/pairs/hto-vs-mndr.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hto-vs-mndr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HTO correlations · MNDR correlations
