Myomo Correlations

MYO Stock

USD 6.25 0.06 0.95%

The current 90-days correlation between Myomo Inc and ReShape Lifesciences is 0.01 (i.e., Significant 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

Average diversification

The correlation between Myomo Inc and DJI is 0.13 (i.e., Average 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

0.78	STRM	Streamline Health	Pair Corr
0.77	FBRX	Forte Biosciences	Pair Corr
0.91	BNR	Burning Rock Biotech	Pair Corr
0.83	KOD	Kodiak Sciences	Pair Corr

Moving against Myomo Stock

0.88	TFX	Teleflex Incorporated	Pair Corr
0.62	VMD	Viemed Healthcare	Pair Corr
0.56	CVS	CVS Health Corp	Pair Corr
0.56	NRC	National Research Corp Earnings Call This Week	Pair Corr
0.41	HCAT	Health Catalyst	Pair Corr
0.84	ERNA	Eterna Therapeutics	Pair Corr
0.79	JNJ	Johnson Johnson	Pair Corr
0.75	NEOG	Neogen	Pair Corr
0.73	ELVN	Enliven Therapeutics	Pair Corr
0.73	EYEN	Eyenovia	Pair Corr
0.7	UTMD	Utah Medical Products	Pair Corr
0.52	MLECW	Moolec Science SA	Pair Corr
0.48	SNDA	Sonida Senior Living	Pair Corr
0.48	ME	23Andme Holding	Pair Corr
0.35	FLGC	Flora Growth Corp	Pair Corr
0.32	VALN	Valneva SE ADR Trending	Pair Corr
0.87	GNFT	Genfit	Pair Corr
0.81	GPCR	Structure Therapeutics	Pair Corr

Related Correlations Analysis

	SINT	RSLS	BBLG	RMED	TIVC	BJDX	VVOS	RPID	TLIS	NUWE
SINT		0.2	-0.01	0.0	-0.23	-0.27	0.1	-0.22	0.0	-0.44	SINT
RSLS	0.2		0.56	0.0	0.26	0.13	-0.58	-0.63	0.0	0.49	RSLS
BBLG	-0.01	0.56		0.0	0.01	0.22	-0.8	0.07	0.0	0.62	BBLG
RMED	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	RMED
TIVC	-0.23	0.26	0.01	0.0		0.17	-0.17	-0.19	0.0	0.39	TIVC
BJDX	-0.27	0.13	0.22	0.0	0.17		-0.19	-0.19	0.0	0.3	BJDX
VVOS	0.1	-0.58	-0.8	0.0	-0.17	-0.19		-0.01	0.0	-0.67	VVOS
RPID	-0.22	-0.63	0.07	0.0	-0.19	-0.19	-0.01		0.0	-0.02	RPID
TLIS	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	TLIS
NUWE	-0.44	0.49	0.62	0.0	0.39	0.3	-0.67	-0.02	0.0		NUWE
	SINT	RSLS	BBLG	RMED	TIVC	BJDX	VVOS	RPID	TLIS	NUWE

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

NUWE	+ 0.62	BBLG
BBLG	+ 0.56	RSLS
NUWE	+ 0.49	RSLS
NUWE	+ 0.39	TIVC
NUWE	+ 0.3	BJDX
TIVC	+ 0.26	RSLS

High negative correlations

VVOS	- 0.8	BBLG
NUWE	- 0.67	VVOS
RPID	- 0.63	RSLS
VVOS	- 0.58	RSLS
NUWE	- 0.44	SINT
BJDX	- 0.27	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	6.02	0.43	0.06	0.41	7.20	(7.39)	15.59	(11.90)	84.59
RSLS	3.58	(0.92)	0.00	(5.32)	0.00	0.00	5.79	(8.01)	29.64
BBLG	3.89	(0.22)	0.00	(0.09)	0.00	0.00	9.80	(7.84)	21.45
RMED	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TIVC	6.60	0.38	0.03	(0.62)	6.38	(10.71)	12.12	(9.68)	82.47
BJDX	9.44	0.19	0.06	0.11	11.54	(10.26)	19.21	(16.37)	120.57
VVOS	4.27	0.95	0.16	(0.86)	4.23	(5.09)	10.55	(7.35)	27.59
RPID	4.99	1.66	0.35	0.88	3.78	(6.26)	17.48	(6.28)	24.92
TLIS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NUWE	6.78	0.26	0.03	0.28	9.26	(8.39)	11.01	(17.65)	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

Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC