MNST vs TNON: Correlation
Measured on weekly returns over the past three years, Monster Beverage (MNST) and Tenon Medical, Inc. (TNON) carry a correlation of -0.59, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MNST and TNON?
Across a 3-year window, the weekly returns of MNST and TNON correlate at -0.59, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.63 lands near the 3-year figure. Stretching to 5 years gives -0.58, with an annualized covariance of -122937.5 %².
By 3-year correlation, TNON places #59 of the 66 assets tracked against MNST. The last year tells two different stories: TNON led by 307.5 percentage points, -24.3% for MNST against +283.2% for TNON. Risk is not evenly split, since TNON carries 43.9 times the volatility of the other side.
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.
MNST vs TNON: side by side
| MNST (Monster Beverage) | TNON (Tenon Medical, Inc.) | |
|---|---|---|
| 1-year return | -24.3% | +283.2% |
| 5-year return | -4.5% | -99.7% |
| Volatility (ann.) | 68.6% | 3014.0% |
| Beta vs S&P 500 | 0.80 | 4.59 |
| Max drawdown (3Y) | -54.5% | -99.5% |
| Market cap | $91.5B | – |
| P/E (trailing) | 43.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Consumer Staples | US Listed |
Year-by-year returns
| Year | MNST | TNON |
|---|---|---|
| 2022 | +5.7% | – |
| 2023 | +13.5% | -90.0% |
| 2024 | -8.8% | -85.1% |
| 2025 | +45.9% | -49.4% |
| 2026 | -39.1% | +427.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MNST and TNON good diversifiers for each other?
By historical standards, yes. A correlation of -0.59 means the two rarely move for the same reasons.
FAQ
What is the correlation between MNST and TNON?
As of 2026-08-27, the correlation of weekly returns between MNST and TNON is -0.59 over 3 years, -0.63 over 1 year and -0.58 over 5 years.
Is TNON a good diversifier for MNST?
By historical standards, yes. A correlation of -0.59 means the two rarely move for the same reasons.
What does a correlation of -0.59 mean?
A reading of -0.59 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mnst-vs-tnon.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mnst-vs-tnon/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MNST correlations · TNON correlations
