Medicinova, Inc. (MNOV) — Stock Correlations & Overview
Over the past year, MNOV has moved most closely with HKD, ILMN, NIHI. Explore the stocks most correlated and inversely correlated with MNOV below, along with its price, financials, and company profile.
Stocks correlated with MNOV
Correlation of daily returns. Higher positive values move with MNOV; negative values move opposite it. Informational only, not investment advice.
Most correlated with MNOV
| Symbol | Company | Correlation |
|---|---|---|
| HKD | AMTD Digital Inc. American Depositary Shares (every five of which represent two Class A Ordinary Shares) | 0.46 |
| ILMN | Illumina IncLABORATORY ANALYTICAL INSTRUMENTS | 0.33 |
| NIHI | NEOS MSCI EAFE High Income ETF | 0.31 |
| ARDX | Ardelyx, Inc.PHARMACEUTICAL PREPARATIONS | 0.30 |
| BFAM | BRIGHT HORIZONS FAMILY SOLUTIONS INC.SERVICES-CHILD DAY CARE SERVICES | 0.29 |
Most inversely correlated with MNOV
| Symbol | Company | Correlation |
|---|---|---|
| TGE | The Generation Essentials Group | -0.35 |
| OSPN | OneSpan Inc. Common StockSERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN | -0.34 |
| BQ | Boqii Holding Limited | -0.30 |
| FET | Forum Energy Technologies, Inc.OIL & GAS FIELD MACHINERY & EQUIPMENT | -0.28 |
| NWL | Newell Brands Inc.PLASTICS PRODUCTS, NEC | -0.26 |
Frequently asked questions about MNOV correlations
- Which stocks are most correlated with MNOV?
- Based on one year of daily returns, the stocks most correlated with Medicinova, Inc. (MNOV) are HKD (0.46), ILMN (0.33) and NIHI (0.31). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with MNOV?
- Over the past year, the stocks most inversely correlated with Medicinova, Inc. (MNOV) are TGE (-0.35), OSPN (-0.34) and BQ (-0.30). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these MNOV correlations calculated?
- We compute the correlation of daily returns between MNOV and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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