Modular Medical Correlations

MODD Stock

USD 0.40 0.07 21.21%

The current 90-days correlation between Modular Medical and Vicarious Surgical is -0.01 (i.e., Good diversification). The correlation of Modular Medical 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.

Modular Medical Correlation With Market

Good diversification

The correlation between Modular Medical and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Modular Medical and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Modular Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Modular Medical. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in small area income & poverty estimates.

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

Moving together with Modular Stock

0.84	300061	QITIAN Technology	Pair Corr
0.77	301363	MeHow Innovative	Pair Corr
0.8	600055	Beijing Wandong Medical	Pair Corr
0.87	OM	Outset Medical	Pair Corr
0.74	688677	Qingdao NovelBeam	Pair Corr
0.81	VERO	Venus Concept	Pair Corr
0.69	DYNT	Dynatronics	Pair Corr
0.94	VNRX	Volitionrx	Pair Corr
0.93	VVOS	Vivos Therapeutics	Pair Corr
0.92	OTC	Ocumetics Technology Corp	Pair Corr
0.61	ELAB	Elevai Labs, Common	Pair Corr
0.69	EMBC	Embecta Corp	Pair Corr
0.65	ENOV	Enovis Corp	Pair Corr
0.86	POLX	Polarean Imaging Plc	Pair Corr

Moving against Modular Stock

0.9	SPEC	Inspecs Group plc	Pair Corr
0.8	EW	Edwards Lifesciences Corp	Pair Corr
0.79	688656	HOB Biotech Group	Pair Corr
0.8	BLCO	Bausch Lomb Corp	Pair Corr
0.8	ELMD	Electromed	Pair Corr
0.44	EDAP	EDAP TMS SA Upward Rally	Pair Corr
0.93	ESTA	Establishment Labs	Pair Corr
0.91	FIGS	Figs Inc	Pair Corr
0.85	BB1	Blinklab	Pair Corr
0.75	FEMY	Femasys	Pair Corr
0.74	ALC	Alcon AG	Pair Corr
0.61	601089	Beijing Winsunny Pha	Pair Corr

Related Correlations Analysis

	RBOT	NXL	IBIO	HYPD	ITRM	MYO	ANTX	INTS	BOLD	IINN
RBOT		0.65	-0.61	0.91	0.96	0.45	0.79	-0.35	0.62	0.51	RBOT
NXL	0.65		-0.3	0.37	0.67	0.3	0.33	0.01	0.73	-0.02	NXL
IBIO	-0.61	-0.3		-0.65	-0.57	0.04	-0.31	0.48	-0.07	-0.4	IBIO
HYPD	0.91	0.37	-0.65		0.86	0.3	0.83	-0.45	0.43	0.59	HYPD
ITRM	0.96	0.67	-0.57	0.86		0.46	0.77	-0.31	0.58	0.53	ITRM
MYO	0.45	0.3	0.04	0.3	0.46		0.47	-0.27	0.42	0.55	MYO
ANTX	0.79	0.33	-0.31	0.83	0.77	0.47		-0.3	0.49	0.54	ANTX
INTS	-0.35	0.01	0.48	-0.45	-0.31	-0.27	-0.3		-0.12	-0.52	INTS
BOLD	0.62	0.73	-0.07	0.43	0.58	0.42	0.49	-0.12		-0.06	BOLD
IINN	0.51	-0.02	-0.4	0.59	0.53	0.55	0.54	-0.52	-0.06		IINN
	RBOT	NXL	IBIO	HYPD	ITRM	MYO	ANTX	INTS	BOLD	IINN

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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

ITRM	+ 0.96	RBOT
HYPD	+ 0.91	RBOT
ITRM	+ 0.86	HYPD
ANTX	+ 0.83	HYPD
ANTX	+ 0.79	RBOT
ANTX	+ 0.77	ITRM

High negative correlations

HYPD	- 0.65	IBIO
IBIO	- 0.61	RBOT
ITRM	- 0.57	IBIO
IINN	- 0.52	INTS
INTS	- 0.45	HYPD
IINN	- 0.4	IBIO

Risk-Adjusted Indicators

There is a big difference between Modular Stock performing well and Modular Medical 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 Modular Medical'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
RBOT	4.95	(1.77)	0.00	(0.32)	0.00	0.00	10.39	(9.85)	42.74
NXL	5.99	(0.35)	0.00	(0.03)	0.00	0.00	10.53	(10.87)	117.23
IBIO	7.22	1.69	0.23	2.09	6.17	(9.05)	25.23	(10.57)	59.00
HYPD	6.72	(1.33)	0.00	(0.28)	0.00	0.00	13.58	(11.86)	36.97
ITRM	4.11	(1.54)	0.00	(0.37)	0.00	0.00	7.69	(8.82)	35.34
MYO	4.19	(0.15)	0.00	0.03	4.91	(4.71)	8.74	(6.90)	23.92
ANTX	1.99	(0.24)	0.00	(0.09)	0.00	0.00	3.20	(4.24)	21.89
INTS	13.96	4.68	0.38	47.64	8.88	(23.49)	13.89	(14.04)	433.59
BOLD	2.42	0.05	0.01	0.15	2.60	(3.19)	5.69	(4.84)	15.34
IINN	3.26	(0.41)	0.00	(0.35)	0.00	0.00	6.86	(7.38)	24.08

Modular Medical Corporate Management

Marc Goldman	Head Engineering	Profile
David Bosshard	Head Operations	Profile
James Besser	Chief Officer	Profile
Kevin Schmid	Chief Officer	Profile

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