Myomo Correlations

MYO Stock

USD 5.13 0.04 0.79%

The current 90-days correlation between Myomo Inc and ReShape Lifesciences is -0.13 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Myomo moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Myomo Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Myomo Correlation With Market

Weak diversification

The correlation between Myomo Inc 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 Myomo Inc and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Myomo Stock

0.71	DOCS	Doximity	Pair Corr
0.69	ENOV	Enovis Corp	Pair Corr
0.84	FOXO	FOXO Technologies	Pair Corr
0.79	ITGR	Integer Holdings Corp	Pair Corr
0.77	MMSI	Merit Medical Systems	Pair Corr
0.65	NXGL	Nexgel Inc	Pair Corr
0.9	CRVL	CorVel Corp	Pair Corr
0.72	EXEL	Exelixis	Pair Corr
0.65	BMY	Bristol Myers Squibb Sell-off Trend	Pair Corr

Moving against Myomo Stock

0.74	EVH	Evolent Health	Pair Corr
0.68	FIGS	Figs Inc	Pair Corr
0.67	PHG	Koninklijke Philips	Pair Corr
0.66	AMN	AMN Healthcare Services	Pair Corr
0.65	AGL	agilon health Buyout Trend	Pair Corr
0.35	CVS	CVS Health Corp Aggressive Push	Pair Corr
0.6	ME	23Andme Holding	Pair Corr
0.59	ADUS	Addus HomeCare	Pair Corr
0.53	VALN	Valneva SE ADR	Pair Corr
0.52	DOMH	Dominari Holdings	Pair Corr
0.48	EQ	Equillium	Pair Corr
0.44	A	Agilent Technologies	Pair Corr
0.42	ATPC	Agape ATP	Pair Corr
0.82	EXAS	EXACT Sciences	Pair Corr
0.8	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.74	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.71	LLY	Eli Lilly	Pair Corr
0.63	HLN	Haleon plc	Pair Corr
0.61	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Related Correlations Analysis

	SINT	RSLS	BBLG	RMED	TIVC	BJDX	VVOS	RPID	TLIS	NUWE
SINT		0.5	0.05	0.42	-0.09	0.46	0.18	-0.37	0.2	-0.41	SINT
RSLS	0.5		-0.24	0.73	0.44	0.8	0.25	-0.53	0.48	-0.34	RSLS
BBLG	0.05	-0.24		0.23	-0.38	0.13	0.0	-0.38	0.42	-0.1	BBLG
RMED	0.42	0.73	0.23		0.12	0.88	-0.13	-0.88	0.87	-0.41	RMED
TIVC	-0.09	0.44	-0.38	0.12		0.3	0.29	0.19	-0.05	0.24	TIVC
BJDX	0.46	0.8	0.13	0.88	0.3		0.03	-0.67	0.72	-0.38	BJDX
VVOS	0.18	0.25	0.0	-0.13	0.29	0.03		0.22	-0.23	-0.03	VVOS
RPID	-0.37	-0.53	-0.38	-0.88	0.19	-0.67	0.22		-0.88	0.52	RPID
TLIS	0.2	0.48	0.42	0.87	-0.05	0.72	-0.23	-0.88		-0.4	TLIS
NUWE	-0.41	-0.34	-0.1	-0.41	0.24	-0.38	-0.03	0.52	-0.4		NUWE
	SINT	RSLS	BBLG	RMED	TIVC	BJDX	VVOS	RPID	TLIS	NUWE

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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

BJDX	+ 0.88	RMED
TLIS	+ 0.87	RMED
BJDX	+ 0.8	RSLS
RMED	+ 0.73	RSLS
TLIS	+ 0.72	BJDX
NUWE	+ 0.52	RPID

High negative correlations

TLIS	- 0.88	RPID
RPID	- 0.88	RMED
RPID	- 0.67	BJDX
RPID	- 0.53	RSLS
NUWE	- 0.41	RMED
NUWE	- 0.41	SINT

Risk-Adjusted Indicators

There is a big difference between Myomo Stock performing well and Myomo 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 Myomo'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
SINT	6.60	0.41	0.09	0.25	6.38	(7.98)	15.59	(11.90)	70.21
RSLS	4.86	(0.65)	0.00	(2.30)	0.00	0.00	7.93	(10.12)	42.57
BBLG	9.17	0.80	0.09	0.62	8.80	(14.72)	18.13	(17.14)	163.17
RMED	2.66	(1.02)	0.00	1.93	0.00	0.00	4.50	(6.11)	14.82
TIVC	4.75	(0.24)	0.00	(0.25)	0.00	0.00	12.12	(6.90)	79.31
BJDX	6.50	(1.07)	0.00	(16.22)	0.00	0.00	13.03	(13.14)	120.52
VVOS	4.92	0.47	0.07	0.84	5.53	(5.61)	9.52	(7.14)	69.53
RPID	2.07	0.35	0.13	0.40	2.21	(2.64)	4.59	(2.70)	24.78
TLIS	4.85	(1.96)	0.00	(3.30)	0.00	0.00	5.32	(10.69)	68.77
NUWE	10.55	1.13	0.05	(0.29)	12.07	(13.25)	25.66	(25.00)	141.14

Myomo Corporate Executives

Elected by the shareholders, the Myomo's board of directors comprises two types of representatives: Myomo inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Myomo. The board's role is to monitor Myomo's management team and ensure that shareholders' interests are well served. Myomo's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Myomo's outside directors are responsible for providing unbiased perspectives on the board's policies.

David Henry

Chief Financial Officer, Principal Financial Officer and Principal Accounting Officer

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