MNDR vs SKYH: Correlation
Mobile-health Network Solutions - Class A (MNDR) and Sky Harbour Group Corporation (SKYH) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MNDR and SKYH?
On 3 years of weekly data the MNDR/SKYH correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.26) sits close to the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -1938.2 %².
Among the 40 assets we track against MNDR, SKYH ranks #29 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SKYH outperformed by 93.5 percentage points (-94.9% for MNDR against -1.4% for SKYH). Note the risk asymmetry: MNDR runs 2.8 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.
MNDR vs SKYH: side by side
| MNDR (Mobile-health Network Solutions - Class A) | SKYH (Sky Harbour Group Corporation) | |
|---|---|---|
| 1-year return | -94.9% | -1.4% |
| 5-year return | n/a | +4.5% |
| Volatility (ann.) | 161.8% | 57.5% |
| Beta vs S&P 500 | -0.61 | 1.13 |
| Max drawdown (3Y) | -100.0% | -39.9% |
| Market cap | – | $0.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MNDR | SKYH |
|---|---|---|
| 2022 | – | -73.8% |
| 2023 | – | +263.2% |
| 2024 | – | +23.5% |
| 2025 | -93.0% | -24.8% |
| 2026 | -68.6% | +17.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MNDR and SKYH good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MNDR and SKYH?
The MNDR/SKYH correlation stands at -0.25 on a 3-year window (1 year: -0.26, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SKYH a good diversifier for MNDR?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 mean?
A reading of -0.25 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: MNDR correlations · SKYH correlations
