MNDR vs NDLS: Correlation
Measured on weekly returns over the past three years, Mobile-health Network Solutions - Class A (MNDR) and Noodles & Company (NDLS) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MNDR and NDLS?
On 3 years of weekly data the MNDR/NDLS correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.26 lands near the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -3555.8 %².
Among the 40 assets we track against MNDR, NDLS ranks #20 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NDLS ahead by 254.9 points (-94.9% versus +160.0%). One caveat on sizing: MNDR is 1.7 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.
MNDR vs NDLS: side by side
| MNDR (Mobile-health Network Solutions - Class A) | NDLS (Noodles & Company) | |
|---|---|---|
| 1-year return | -94.9% | +160.0% |
| 5-year return | n/a | -85.0% |
| Volatility (ann.) | 161.8% | 98.0% |
| Beta vs S&P 500 | -0.61 | 1.03 |
| Max drawdown (3Y) | -100.0% | -85.6% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MNDR | NDLS |
|---|---|---|
| 2022 | – | -39.5% |
| 2023 | – | -42.6% |
| 2024 | – | -81.6% |
| 2025 | -93.0% | +22.4% |
| 2026 | -68.6% | +160.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MNDR and NDLS good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between MNDR and NDLS?
The MNDR/NDLS correlation stands at -0.21 on a 3-year window (1 year: -0.26, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is NDLS a good diversifier for MNDR?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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/mndr-vs-ndls.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mndr-vs-ndls/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MNDR correlations · NDLS correlations
