A compact multiple input multiple output (MIMO) antenna operating at 2.45 GHz industrial scientific and medical band is presented for wearable devices. Open-end slotting is used to miniaturize the antenna dimensions. Inverted U-shaped ground stub is incorporated to reduce mutual coupling. On-body performance is analyzed on a three-layered equivalent tissue phantom model. The wide bandwidth of 300 MHz and port isolation of 30 dB are obtained from measured results. The antenna shows the efficiency of 40% and directivity of 4.56 dBi when placed at a gap of “s” = 4 mm from the body. Broadside radiation pattern and low specific absorption rate make the antenna suitable for on-body communication. Further, diversity performance is measured in terms of envelope correlation coefficient (ECC), diversity gain (DG), and channel capacity loss (CCL). The value of ECC is 0.025, DG is 9.98 dB, and CCL is 0.12 bits/s/Hz at 2.45 GHz. Antenna robustness is examined by bending the structure at different radii along the x-axis and y-axis. Performance of the proposed structure is reliable with structural deformation.