Moderna Correlations

MRNA Stock

USD 43.95 1.72 4.07%

The current 90-days correlation between Moderna and Bio Techne Corp is 0.27 (i.e., Modest diversification). The correlation of Moderna 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.

Moderna Correlation With Market

Very poor diversification

The correlation between Moderna and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Moderna and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Moderna Stock

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

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

Moving together with Moderna Stock

0.81	GXEA	Galapagos NV Earnings Call This Week	Pair Corr
0.83	8VP1	AVRICORE HEALTH INC	Pair Corr
0.64	VALN	Valneva SE ADR	Pair Corr
0.74	DNTH	Dianthus Therapeutics	Pair Corr
0.88	6C1	CytomX Therapeutics	Pair Corr
0.92	DRTS	Alpha Tau Medical	Pair Corr
0.71	DSGN	Design Therapeutics	Pair Corr
0.92	0P6S	Bayer AG NA Earnings Call Next Week	Pair Corr
0.83	DVAX	Dynavax Technologies Earnings Call This Week	Pair Corr

Moving against Moderna Stock

0.7	OSE	OSE Pharma SA	Pair Corr
0.62	RAC	Race Oncology Earnings Call This Week	Pair Corr
0.56	DRMA	Dermata Therapeutics	Pair Corr
0.52	VCYT	Veracyte Earnings Call Next Week	Pair Corr
0.43	VCEL	Vericel Corp Ord	Pair Corr
0.4	CDIOW	Cardio Diagnostics	Pair Corr
0.86	DWTX	Dogwood Therapeutics	Pair Corr
0.85	VSTM	Verastem	Pair Corr
0.79	VTGN	VistaGen Therapeutics	Pair Corr
0.77	DTIL	Precision BioSciences	Pair Corr
0.77	XE9	Xencor Inc	Pair Corr
0.76	VRAX	Virax Biolabs Group	Pair Corr
0.72	VKTX	Viking Therapeutics	Pair Corr
0.72	CDTTW	Conduit Pharmaceuticals	Pair Corr

Related Correlations Analysis

	TECH	BMRN	EXEL	MDGL	CAI	RNA	RVMD	JAZZ	HALO	BBIO
TECH		0.22	0.3	-0.51	-0.14	0.55	0.79	0.15	0.48	0.38	TECH
BMRN	0.22		0.6	-0.05	-0.05	0.6	0.34	0.12	0.55	0.39	BMRN
EXEL	0.3	0.6		0.21	0.37	0.37	0.37	0.21	0.17	0.4	EXEL
MDGL	-0.51	-0.05	0.21		0.66	-0.46	-0.6	0.32	-0.61	-0.07	MDGL
CAI	-0.14	-0.05	0.37	0.66		-0.13	-0.06	0.13	-0.69	0.36	CAI
RNA	0.55	0.6	0.37	-0.46	-0.13		0.76	0.27	0.5	0.72	RNA
RVMD	0.79	0.34	0.37	-0.6	-0.06	0.76		0.16	0.42	0.63	RVMD
JAZZ	0.15	0.12	0.21	0.32	0.13	0.27	0.16		0.0	0.34	JAZZ
HALO	0.48	0.55	0.17	-0.61	-0.69	0.5	0.42	0.0		-0.04	HALO
BBIO	0.38	0.39	0.4	-0.07	0.36	0.72	0.63	0.34	-0.04		BBIO
	TECH	BMRN	EXEL	MDGL	CAI	RNA	RVMD	JAZZ	HALO	BBIO

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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

RVMD	+ 0.79	TECH
RVMD	+ 0.76	RNA
BBIO	+ 0.72	RNA
CAI	+ 0.66	MDGL
BBIO	+ 0.63	RVMD
EXEL	+ 0.6	BMRN

High negative correlations

HALO	- 0.69	CAI
HALO	- 0.61	MDGL
RVMD	- 0.6	MDGL
MDGL	- 0.51	TECH
RNA	- 0.46	MDGL
CAI	- 0.14	TECH

Risk-Adjusted Indicators

There is a big difference between Moderna Stock performing well and Moderna 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 Moderna'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
TECH	1.84	(0.01)	0.01	0.05	1.99	(2.11)	3.74	(2.92)	12.41
BMRN	1.59	0.18	0.10	0.37	1.41	(1.89)	3.20	(2.32)	22.06
EXEL	1.57	0.05	0.02	0.13	1.75	(1.77)	3.79	(2.93)	10.16
MDGL	1.91	(0.12)	0.00	(0.08)	0.00	0.00	4.57	(3.26)	16.78
CAI	2.09	(0.30)	0.00	(0.31)	0.00	0.00	3.96	(4.91)	17.67
RNA	0.17	0.05	(0.03)	0.51	0.00	(0.21)	0.38	(0.29)	1.75
RVMD	2.31	0.74	0.19	54.88	2.98	(2.78)	4.56	(2.52)	45.50
JAZZ	1.63	0.41	0.16	(0.64)	1.53	(1.86)	3.66	(3.14)	25.96
HALO	1.66	0.20	0.09	0.32	1.78	(1.77)	3.72	(2.90)	9.83
BBIO	1.95	0.24	0.07	0.26	3.10	(2.15)	5.40	(3.46)	21.24

Moderna Corporate Management

Melanie MBA	Chief Officer	Profile
Stephane Bancel	CEO Director	Profile
Dave Johnson	Chief Officer	Profile
Lavina CFA	Senior Relations	Profile
Noubar Afeyan	Independent CoFounder	Profile
Allison MD	Senior Development	Profile

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