This paper presents a novel anomaly and outlier detection algorithm from the SPINEX (Similarity-based Predictions with Explainable Neighbors Exploration) family. This algorithm leverages the concept of similarity and higher-order interactions across multiple subspaces to identify outliers. A comprehensive set of experiments was conducted to evaluate the performance of SPINEX. This algorithm was examined against 21 commonly used anomaly detection algorithms, namely, namely, Angle-Based Outlier Detection (ABOD), Connectivity-Based Outlier Factor (COF), Copula-Based Outlier Detection (COPOD), ECOD, Elliptic Envelope (EE), Feature Bagging with KNN, Gaussian Mixture Models (GMM), Histogram-based Outlier Score (HBOS), Isolation Forest (IF), Isolation Neural Network Ensemble (INNE), Kernel Density Estimation (KDE), K-Nearest Neighbors (KNN), Lightweight Online Detector of Anomalies (LODA), Linear Model Deviation-based Detector (LMDD), Local Outlier Factor (LOF), Minimum Covariance Determinant (MCD), One-Class SVM (OCSVM), Quadratic MCD (QMCD), Robust Covariance (RC), Stochastic Outlier Selection (SOS), and Subspace Outlier Detection (SOD), and across 39 synthetic and real datasets from various domains and of a variety of dimensions and complexities. Furthermore, a complexity analysis was carried out to examine the complexity of the proposed algorithm. Our results demonstrate that SPINEX achieves superior performance, outperforms commonly used anomaly detection algorithms, and has moderate complexity (e.g., O(n log n d)). More specifically, SPINEX was found to rank at the top of algorithms on the synthetic datasets and the 7th on the real datasets. Finally, a demonstration of the explainability capabilities of SPINEX, along with future research needs, is presented.