Moderna Correlations

MRNA Stock

USD 32.17 1.31 4.24%

The current 90-days correlation between Moderna and Bio Techne Corp is 0.24 (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 weak diversification

The correlation between Moderna and DJI is 0.41 (i.e., Very weak 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 employment.

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

Moving together with Moderna Stock

0.62

JPM

JPMorgan Chase

Pair Corr

Moving against Moderna Stock

0.42

Procter Gamble

Pair Corr

Related Correlations Analysis

	TECH	BMRN	EXEL	MDGL	CAI	RNA	RVMD	JAZZ	HALO	BBIO
TECH		0.01	-0.21	-0.17	0.24	-0.15	-0.12	-0.04	0.04	-0.17	TECH
BMRN	0.01		0.64	0.52	-0.09	0.18	0.4	0.42	0.35	0.42	BMRN
EXEL	-0.21	0.64		0.88	-0.58	0.63	0.77	0.72	0.28	0.78	EXEL
MDGL	-0.17	0.52	0.88		-0.71	0.73	0.93	0.9	0.15	0.9	MDGL
CAI	0.24	-0.09	-0.58	-0.71		-0.72	-0.65	-0.6	-0.34	-0.59	CAI
RNA	-0.15	0.18	0.63	0.73	-0.72		0.86	0.65	-0.05	0.88	RNA
RVMD	-0.12	0.4	0.77	0.93	-0.65	0.86		0.87	-0.08	0.97	RVMD
JAZZ	-0.04	0.42	0.72	0.9	-0.6	0.65	0.87		0.08	0.82	JAZZ
HALO	0.04	0.35	0.28	0.15	-0.34	-0.05	-0.08	0.08		-0.12	HALO
BBIO	-0.17	0.42	0.78	0.9	-0.59	0.88	0.97	0.82	-0.12		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

BBIO	+ 0.97	RVMD
RVMD	+ 0.93	MDGL
JAZZ	+ 0.9	MDGL
BBIO	+ 0.9	MDGL
MDGL	+ 0.88	EXEL
BBIO	+ 0.88	RNA

High negative correlations

RNA	- 0.72	CAI
CAI	- 0.71	MDGL
RVMD	- 0.65	CAI
JAZZ	- 0.6	CAI
BBIO	- 0.59	CAI
CAI	- 0.58	EXEL

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	1.74	0.05	0.04	0.09	1.70	(2.03)	3.72	(2.93)	12.12
BMRN	1.50	0.11	0.07	0.17	1.43	(1.76)	3.20	(2.95)	20.77
EXEL	1.71	0.06	0.02	0.12	2.52	(1.87)	4.27	(2.93)	14.78
MDGL	2.01	0.37	0.22	0.47	1.33	(2.57)	7.29	(2.58)	12.14
CAI	2.35	(0.17)	0.00	(0.15)	0.00	0.00	4.40	(4.73)	22.72
RNA	1.96	0.80	0.59	0.69	0.23	(2.14)	4.86	(1.82)	42.94
RVMD	1.62	0.76	0.60	0.94	0.61	(2.17)	4.34	(2.20)	11.71
JAZZ	1.55	0.48	0.25	(0.77)	1.17	(1.90)	3.66	(2.50)	24.53
HALO	1.45	(0.08)	0.00	(0.14)	0.00	0.00	3.12	(2.91)	9.83
BBIO	1.82	0.57	0.34	0.46	1.37	(2.27)	4.23	(2.83)	22.02

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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