RANI vs SHMD: Correlation
Measured on weekly returns over the past three years, Rani Therapeutics Holdings, Inc. (RANI) and SCHMID Group N.V. - Class A (SHMD) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RANI and SHMD?
Across a 3-year window, the weekly returns of RANI and SHMD correlate at 0.43, moderate. Little has changed lately, as the 1-year reading of 0.51 lands near the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 7959.7 %².
Within RANI's tracked universe of 10 assets, SHMD comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with RANI ahead by 22.9 points (+51.7% versus +28.8%). Note the risk asymmetry: RANI runs 1.8 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.
RANI vs SHMD: side by side
| RANI (Rani Therapeutics Holdings, Inc.) | SHMD (SCHMID Group N.V. - Class A) | |
|---|---|---|
| 1-year return | +51.7% | +28.8% |
| 5-year return | -95.2% | n/a |
| Volatility (ann.) | 174.6% | 96.9% |
| Beta vs S&P 500 | 1.62 | 0.77 |
| Max drawdown (3Y) | -94.8% | -69.6% |
| Market cap | $0.1B | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RANI | SHMD |
|---|---|---|
| 2022 | -63.9% | – |
| 2023 | -43.7% | – |
| 2024 | -58.7% | – |
| 2025 | -1.5% | +101.1% |
| 2026 | -36.7% | -45.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RANI and SHMD good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between RANI and SHMD?
As of 2026-08-27, the correlation of weekly returns between RANI and SHMD is 0.43 over 3 years, 0.51 over 1 year and n/a over 5 years.
Is SHMD a good diversifier for RANI?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 mean?
On the −1 to +1 scale, 0.43 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.
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Related comparisons
Hubs: RANI correlations · SHMD correlations
