IMDX vs SHMD: Correlation
Insight Molecular Diagnostics Inc. (IMDX) and SCHMID Group N.V. - Class A (SHMD) show a moderate relationship: their 3-year correlation of weekly returns is 0.32.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IMDX and SHMD?
Across a 3-year window, the weekly returns of IMDX and SHMD correlate at 0.32, moderate. The past 12 months show a tighter link (0.44) than the 3-year average (0.32). Stretching to 5 years gives n/a, with an annualized covariance of 2759.1 %².
SHMD is one of the assets that tracks IMDX most closely: it ranks #3 out of the 10 assets we track against IMDX. The last year tells two different stories: IMDX led by 44.2 percentage points, +73.0% for IMDX against +28.8% for SHMD.
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 SHMD: side by side
| IMDX (Insight Molecular Diagnostics Inc.) | SHMD (SCHMID Group N.V. - Class A) | |
|---|---|---|
| 1-year return | +73.0% | +28.8% |
| 5-year return | -94.7% | n/a |
| Volatility (ann.) | 89.4% | 96.9% |
| Beta vs S&P 500 | 1.02 | 0.77 |
| Max drawdown (3Y) | -69.9% | -69.6% |
| Market cap | $0.1B | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IMDX | SHMD |
|---|---|---|
| 2022 | -85.2% | – |
| 2023 | -61.1% | – |
| 2024 | -4.8% | – |
| 2025 | +215.1% | +101.1% |
| 2026 | -42.8% | -45.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IMDX and SHMD good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between IMDX and SHMD?
The IMDX/SHMD correlation stands at 0.32 on a 3-year window (1 year: 0.44, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SHMD a good diversifier for IMDX?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.32 mean?
On the −1 to +1 scale, 0.32 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.
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Hubs: IMDX correlations · SHMD correlations
