INO vs MDXH: Correlation
Inovio Pharmaceuticals, Inc. (INO) and MDxHealth SA (MDXH) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INO and MDXH?
Across a 3-year window, the weekly returns of INO and MDXH correlate at 0.40, moderate. The past 12 months show a tighter link (0.56) than the 3-year average (0.40). Stretching to 5 years gives 0.32, with an annualized covariance of 3482.0 %².
By 3-year correlation, MDXH places #5 of the 11 assets tracked against INO. Correlation aside, the last 12 months split them widely, with INO ahead by 31.1 points (-48.8% versus -79.9%).
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.
INO vs MDXH: side by side
| INO (Inovio Pharmaceuticals, Inc.) | MDXH (MDxHealth SA) | |
|---|---|---|
| 1-year return | -48.8% | -79.9% |
| 5-year return | -98.8% | -94.0% |
| Volatility (ann.) | 99.4% | 86.5% |
| Beta vs S&P 500 | 1.55 | 1.97 |
| Max drawdown (3Y) | -95.2% | -92.0% |
| Market cap | $0.1B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INO | MDXH |
|---|---|---|
| 2022 | -68.7% | -30.6% |
| 2023 | -67.3% | -40.4% |
| 2024 | -70.1% | -39.8% |
| 2025 | -4.9% | +50.6% |
| 2026 | -27.6% | -79.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INO and MDXH good diversifiers for each other?
Reasonably. At 0.40, INO and MDXH keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between INO and MDXH?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.56 over the last year and 0.32 over 5 years.
Is MDXH a good diversifier for INO?
Reasonably. At 0.40, INO and MDXH keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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/ino-vs-mdxh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ino-vs-mdxh/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: INO correlations · MDXH correlations
