CODX vs. RNMBY

Last updated Jun 4, 2026

CODX (Co-Diagnostics, Inc.) and RNMBY (Rheinmetall AG ADR) are both stocks. CODX operates in Diagnostics & Research (Healthcare), while RNMBY operates in Aerospace & Defense (Industrials). Over the past 5 years, CODX returned -54.03%/yr vs 69.62%/yr for RNMBY. At a 0.06 correlation, their price movements are largely independent.

Performance

CODX vs. RNMBY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Co-Diagnostics, Inc. (CODX) and Rheinmetall AG ADR (RNMBY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CODX achieves a 2.21% return, which is significantly higher than RNMBY's -23.30% return.

CODX

• 1D: -16.88%
• 1M: 229.30%
• YTD: 2.21%
• 6M: -51.67%
• 1Y: -39.26%
• 3Y*: -45.93%
• 5Y*: -54.03%
• 10Y*: —

RNMBY

• 1D: -0.10%
• 1M: -12.78%
• YTD: -23.30%
• 6M: -21.38%
• 1Y: -33.14%
• 3Y*: 76.84%
• 5Y*: 69.62%
• 10Y*: 37.34%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CODX vs. RNMBY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CODX Co-Diagnostics, Inc.	2.21%	-77.52%	-43.61%	-47.22%	-71.78%	-3.98%	939.11%	-39.93%	-43.56%	-54.56%
RNMBY Rheinmetall AG ADR	-23.30%	190.28%	99.83%	63.35%	122.00%	-13.84%	-2.03%	28.14%	-29.38%	27.89%

Correlation

The correlation between CODX and RNMBY is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.09
Correlation (All Time) Calculated using the full available price history since Jul 13, 2017	0.06

The correlation between CODX and RNMBY shifts across timeframes, from 0.06 (all time) to 0.19 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap CODX : $6.88M RNMBY : $64.74B
EPS CODX : -$38.06 RNMBY : $3.56
PS Ratio CODX : 10.23 RNMBY : 5.86
PB Ratio CODX : 0.33 RNMBY : 12.12
Total Revenue (TTM) CODX : $622.49K RNMBY : $9.58B
Gross Profit (TTM) CODX : $400.11K RNMBY : $4.12B
EBITDA (TTM) CODX : -$47.41M RNMBY : $1.81B

Return for Risk

CODX vs. RNMBY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CODX

CODX Risk / Return Rank: 52
CODX Sharpe Ratio Rank: 36
CODX Sortino Ratio Rank: 83
CODX Omega Ratio Rank: 86
CODX Calmar Ratio Rank: 27
CODX Martin Ratio Rank: 30

RNMBY

RNMBY Risk / Return Rank: 11
RNMBY Sharpe Ratio Rank: 11
RNMBY Sortino Ratio Rank: 13
RNMBY Omega Ratio Rank: 14
RNMBY Calmar Ratio Rank: 12
RNMBY Martin Ratio Rank: 2

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CODX vs. RNMBY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Co-Diagnostics, Inc. (CODX) and Rheinmetall AG ADR (RNMBY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CODX	RNMBY	Difference
Sharpe ratio Return per unit of total volatility	-0.11	-0.71	+0.60
Sortino ratio Return per unit of downside risk	2.58	-0.86	+3.44
Omega ratio Gain probability vs. loss probability	1.37	0.90	+0.47
Calmar ratio Return relative to maximum drawdown	-0.41	-0.75	+0.35
Martin ratio Return relative to average drawdown	-0.57	-1.72	+1.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CODX vs. RNMBY - Sharpe Ratio Comparison

The current CODX Sharpe Ratio is -0.11, which is higher than the RNMBY Sharpe Ratio of -0.71. The chart below compares the historical Sharpe Ratios of CODX and RNMBY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CODX	RNMBY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.11	-0.71	+0.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.31	1.56	-1.88
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.90	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.19	0.80	-0.99

Drawdowns

CODX vs. RNMBY - Drawdown Comparison

The maximum CODX drawdown since its inception was -99.86%, which is greater than RNMBY's maximum drawdown of -67.75%. Use the drawdown chart below to compare losses from any high point for CODX and RNMBY.

Drawdown Indicators

	CODX	RNMBY	Difference
Max Drawdown Largest peak-to-trough decline	-99.86%	-67.75%	-32.11%
Max Drawdown (1Y) Largest decline over 1 year	-96.60%	-44.06%	-52.54%
Max Drawdown (3Y) Largest decline over 3 years	-97.68%	-44.06%	-53.62%
Max Drawdown (5Y) Largest decline over 5 years	-99.62%	-44.06%	-55.56%
Max Drawdown (10Y) Largest decline over 10 years	—	-67.75%	—
Current Drawdown Current decline from peak	-99.44%	-40.10%	-59.34%
Average Drawdown Average peak-to-trough decline	-76.54%	-16.69%	-59.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	68.94%	19.29%	+49.65%

Volatility

CODX vs. RNMBY - Volatility Comparison

Co-Diagnostics, Inc. (CODX) has a higher volatility of 122.80% compared to Rheinmetall AG ADR (RNMBY) at 17.60%. This indicates that CODX's price experiences larger fluctuations and is considered to be riskier than RNMBY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CODX	RNMBY	Difference
Volatility (1M) Calculated over the trailing 1-month period	122.80%	17.60%	+105.20%
Volatility (6M) Calculated over the trailing 6-month period	188.76%	34.43%	+154.33%
Volatility (1Y) Calculated over the trailing 1-year period	349.97%	46.66%	+303.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	172.26%	44.76%	+127.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	171.74%	41.55%	+130.19%

Dividends

CODX vs. RNMBY - Dividend Comparison

CODX has not paid dividends to shareholders, while RNMBY's dividend yield for the trailing twelve months is around 0.98%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CODX Co-Diagnostics, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RNMBY Rheinmetall AG ADR	0.98%	0.49%	0.96%	1.46%	1.82%	1.72%	1.56%	1.36%	1.47%	2.06%	2.97%	0.53%

Financials

Frequently Asked Questions

Can I hold both CODX and RNMBY in my portfolio?

CODX and RNMBY have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CODX or RNMBY?

CODX has higher volatility (122.80%) compared to RNMBY (17.60%). In terms of maximum drawdown, CODX dropped -99.86% vs RNMBY's -67.75%.

Which has better risk-adjusted returns?

CODX currently has the higher Sharpe Ratio (-0.11 vs -0.71), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.