ITP vs MNDO: Correlation
Measured on weekly returns over the past three years, IT Tech Packaging, Inc. (ITP) and MIND C.T.I. Ltd. (MNDO) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ITP and MNDO?
On 3 years of weekly data the ITP/MNDO correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.28) sits close to the 3-year figure. The 5-year figure is -0.13, and annualized covariance runs at -444.9 %².
MNDO is close to the least connected end of ITP's tracked universe, ranking #8 of 10. The trailing year gives ITP the advantage: -9.8% versus -15.1%, a 5.3-point spread. Note the risk asymmetry: ITP runs 3.8 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.
ITP vs MNDO: side by side
| ITP (IT Tech Packaging, Inc.) | MNDO (MIND C.T.I. Ltd.) | |
|---|---|---|
| 1-year return | -9.8% | -15.1% |
| 5-year return | -95.6% | -51.6% |
| Volatility (ann.) | 94.0% | 24.9% |
| Beta vs S&P 500 | 0.05 | 0.32 |
| Max drawdown (3Y) | -76.1% | -54.6% |
| Market cap | – | – |
| P/E (trailing) | – | 6.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ITP | MNDO |
|---|---|---|
| 2022 | -80.0% | -26.5% |
| 2023 | -32.6% | +4.2% |
| 2024 | +93.5% | +13.1% |
| 2025 | -63.3% | -34.9% |
| 2026 | -18.0% | -12.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ITP and MNDO good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between ITP and MNDO?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.28 over the last year and -0.13 over 5 years.
Is MNDO a good diversifier for ITP?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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/itp-vs-mndo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/itp-vs-mndo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ITP correlations · MNDO correlations
