MDXG vs MNDR: Correlation
Measured on weekly returns over the past three years, MiMedx Group, Inc (MDXG) and Mobile-health Network Solutions - Class A (MNDR) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDXG and MNDR?
Over the past 3 years, MDXG and MNDR moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.26 over 1 year against -0.27 over 3. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -1796.4 %².
MNDR is close to the least connected end of MDXG's tracked universe, ranking #8 of 10. Correlation aside, the last 12 months split them widely, with MDXG ahead by 57.8 points (-37.1% versus -94.9%). One caveat on sizing: MNDR is 3.7 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.
MDXG vs MNDR: side by side
| MDXG (MiMedx Group, Inc) | MNDR (Mobile-health Network Solutions - Class A) | |
|---|---|---|
| 1-year return | -37.1% | -94.9% |
| 5-year return | -69.1% | n/a |
| Volatility (ann.) | 43.2% | 161.8% |
| Beta vs S&P 500 | 0.71 | -0.61 |
| Max drawdown (3Y) | -68.3% | -100.0% |
| Market cap | $0.7B | – |
| P/E (trailing) | 112.8 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MDXG | MNDR |
|---|---|---|
| 2022 | -54.0% | – |
| 2023 | +215.5% | – |
| 2024 | +9.7% | – |
| 2025 | -29.6% | -93.0% |
| 2026 | -33.4% | -68.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDXG and MNDR good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between MDXG and MNDR?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.26 over the last year and n/a over 5 years.
Is MNDR a good diversifier for MDXG?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 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/mdxg-vs-mndr.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mdxg-vs-mndr/)
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Related comparisons
Hubs: MDXG correlations · MNDR correlations
