MDRR vs NDSN: Correlation
How closely do Medalist Diversified, Inc. (MDRR) and Nordson Corporation (NDSN) trade together? Their weekly returns over three years give a correlation of -0.15, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDRR and NDSN?
Over the past 3 years, MDRR and NDSN moved with a correlation of -0.15, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.22) sits close to the 3-year figure. Over 5 years the correlation is -0.04, and the annualized covariance of weekly returns is -105.2 %².
Within MDRR's tracked universe of 36 assets, NDSN comes in at #11 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NDSN outperformed by 43.7 percentage points (+4.8% for MDRR against +48.5% for NDSN).
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.
MDRR vs NDSN: side by side
| MDRR (Medalist Diversified, Inc.) | NDSN (Nordson Corporation) | |
|---|---|---|
| 1-year return | +4.8% | +48.5% |
| 5-year return | -31.3% | +46.5% |
| Volatility (ann.) | 28.1% | 24.7% |
| Beta vs S&P 500 | -0.02 | 0.97 |
| Max drawdown (3Y) | -29.5% | -39.1% |
| Market cap | – | $18.4B |
| P/E (trailing) | 3.1 | 33.5 |
| Dividend yield | 2.21% | 0.98% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | MDRR | NDSN |
|---|---|---|
| 2022 | -37.3% | -5.9% |
| 2023 | -4.0% | +12.4% |
| 2024 | +28.6% | -20.1% |
| 2025 | -5.5% | +17.0% |
| 2026 | -0.7% | +38.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDRR and NDSN good diversifiers for each other?
Yes: at -0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MDRR and NDSN?
The MDRR/NDSN correlation stands at -0.15 on a 3-year window (1 year: -0.22, 5 years: -0.04), computed from weekly returns as of 2026-08-27.
Is NDSN a good diversifier for MDRR?
Yes: at -0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.15 mean?
On the −1 to +1 scale, -0.15 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/mdrr-vs-ndsn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mdrr-vs-ndsn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MDRR correlations · NDSN correlations
