IMDX vs RENX: Correlation
How closely do Insight Molecular Diagnostics Inc. (IMDX) and RenX Enterprises Corp. (RENX) trade together? Their weekly returns over three years give a correlation of 0.29, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IMDX and RENX?
Across a 3-year window, the weekly returns of IMDX and RENX correlate at 0.29, weak. The past 12 months show a weaker link (0.00) than the 3-year average (0.29). Stretching to 5 years gives n/a, with an annualized covariance of 8526.5 %².
By 3-year correlation, RENX places #5 of the 10 assets tracked against IMDX. Their recent paths diverged sharply: over the last 12 months IMDX outperformed by 164.0 percentage points (+73.0% for IMDX against -91.0% for RENX). One caveat on sizing: RENX is 3.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
IMDX vs RENX: side by side
| IMDX (Insight Molecular Diagnostics Inc.) | RENX (RenX Enterprises Corp.) | |
|---|---|---|
| 1-year return | +73.0% | -91.0% |
| 5-year return | -94.7% | n/a |
| Volatility (ann.) | 89.4% | 322.0% |
| Beta vs S&P 500 | 1.02 | 1.58 |
| Max drawdown (3Y) | -69.9% | -99.9% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IMDX | RENX |
|---|---|---|
| 2022 | -85.2% | – |
| 2023 | -61.1% | – |
| 2024 | -4.8% | -90.5% |
| 2025 | +215.1% | -92.5% |
| 2026 | -42.8% | -46.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IMDX and RENX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.29 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between IMDX and RENX?
As of 2026-08-27, the correlation of weekly returns between IMDX and RENX is 0.29 over 3 years, 0.00 over 1 year and n/a over 5 years.
Is RENX a good diversifier for IMDX?
Yes, to a useful degree: a correlation of 0.29 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.29 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/imdx-vs-renx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/imdx-vs-renx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IMDX correlations · RENX correlations
