InMode Correlations

INMD Stock

USD 14.12 0.30 2.17%

The current 90-days correlation between InMode and Tandem Diabetes Care is 0.06 (i.e., Significant diversification). The correlation of InMode is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

InMode Correlation With Market

Weak diversification

The correlation between InMode and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding InMode and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with InMode Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in InMode. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For information on how to trade InMode Stock refer to our How to Trade InMode Stock guide.

Moving together with InMode Stock

0.64	OM	Outset Medical	Pair Corr
0.68	VVOS	Vivos Therapeutics	Pair Corr
0.64	POLX	Polarean Imaging Plc	Pair Corr

Moving against InMode Stock

0.68	SPEC	Inspecs Group plc	Pair Corr
0.65	EW	Edwards Lifesciences Corp	Pair Corr
0.5	688656	HOB Biotech Group	Pair Corr
0.59	BB1	Blinklab	Pair Corr
0.58	ESTA	Establishment Labs	Pair Corr
0.57	688198	Beijing Balance Medical	Pair Corr
0.5	605186	Shanghai General Healthy	Pair Corr
0.49	FEMY	Femasys	Pair Corr
0.38	FIGS	Figs Inc	Pair Corr
0.33	301367	BMC Medical	Pair Corr

Related Correlations Analysis

	TNDM	IRMD	AXGN	IART	CTEV	AHCO	OPK	OCS	ANAB	XNCR
TNDM		0.9	0.91	-0.23	-0.84	0.62	-0.66	0.1	0.85	0.41	TNDM
IRMD	0.9		0.96	-0.37	-0.85	0.75	-0.72	0.24	0.88	0.23	IRMD
AXGN	0.91	0.96		-0.42	-0.8	0.66	-0.74	0.1	0.89	0.33	AXGN
IART	-0.23	-0.37	-0.42		0.25	-0.12	0.75	0.33	-0.18	-0.1	IART
CTEV	-0.84	-0.85	-0.8	0.25		-0.6	0.57	-0.35	-0.75	-0.27	CTEV
AHCO	0.62	0.75	0.66	-0.12	-0.6		-0.37	0.43	0.71	-0.13	AHCO
OPK	-0.66	-0.72	-0.74	0.75	0.57	-0.37		0.17	-0.53	-0.24	OPK
OCS	0.1	0.24	0.1	0.33	-0.35	0.43	0.17		0.28	-0.5	OCS
ANAB	0.85	0.88	0.89	-0.18	-0.75	0.71	-0.53	0.28		0.25	ANAB
XNCR	0.41	0.23	0.33	-0.1	-0.27	-0.13	-0.24	-0.5	0.25		XNCR
	TNDM	IRMD	AXGN	IART	CTEV	AHCO	OPK	OCS	ANAB	XNCR

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

AXGN	+ 0.96	IRMD
AXGN	+ 0.91	TNDM
IRMD	+ 0.9	TNDM
ANAB	+ 0.89	AXGN
ANAB	+ 0.88	IRMD
ANAB	+ 0.85	TNDM

High negative correlations

CTEV	- 0.85	IRMD
CTEV	- 0.84	TNDM
CTEV	- 0.8	AXGN
ANAB	- 0.75	CTEV
OPK	- 0.74	AXGN
OPK	- 0.72	IRMD

Risk-Adjusted Indicators

There is a big difference between InMode Stock performing well and InMode Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze InMode's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TNDM	3.00	0.54	0.17	0.80	2.84	(3.57)	7.03	(4.32)	27.06
IRMD	1.25	0.54	0.31	20.26	0.97	(1.45)	2.93	(2.24)	11.95
AXGN	2.58	1.15	0.39	(1.95)	1.95	(3.23)	6.12	(2.94)	30.66
IART	2.52	(0.33)	0.00	(0.08)	0.00	0.00	5.40	(4.33)	27.51
CTEV	5.17	(0.55)	0.00	0.45	0.00	0.00	10.91	(13.45)	37.38
AHCO	1.89	0.19	0.07	0.47	1.99	(2.05)	4.17	(3.09)	24.44
OPK	1.57	(0.26)	0.00	(0.66)	0.00	0.00	3.03	(3.27)	8.95
OCS	1.82	0.30	0.10	0.79	2.03	(1.94)	5.79	(4.03)	15.08
ANAB	2.52	0.54	0.11	(1.16)	3.50	(2.69)	6.11	(5.26)	20.41
XNCR	3.11	(0.16)	0.00	0.45	0.00	0.00	7.05	(5.23)	16.84

InMode Corporate Management

Brandon Nye	Vice US	Profile
Yair Malca	Chief Officer	Profile
Alon Yaari	Vice Operations	Profile
Matt Rodgers	Vice Canada	Profile
Spero MD	Chief Officer	Profile

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