InMode Correlations

INMD Stock

USD 18.35 0.04 0.22%

The current 90-days correlation between InMode and TransMedics Group is 0.31 (i.e., Weak diversification). The correlation of InMode 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.

InMode Correlation With Market

Average diversification

The correlation between InMode and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding InMode and DJI in the same portfolio, assuming nothing else is changed.

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

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

Moving together with InMode Stock

0.68	CI	Cigna Corp	Pair Corr
0.63	MD	Mednax Inc	Pair Corr
0.7	DOCS	Doximity	Pair Corr
0.7	EDAP	EDAP TMS SA	Pair Corr
0.68	EHAB	Enhabit	Pair Corr
0.81	FEMY	Femasys	Pair Corr
0.71	ABT	Abbott Laboratories	Pair Corr
0.61	ALC	Alcon AG	Pair Corr
0.61	BAX	Baxter International	Pair Corr

Moving against InMode Stock

0.75	EMBC	Embecta Corp	Pair Corr
0.71	VVOS	Vivos Therapeutics	Pair Corr
0.68	VTAK	Catheter Precision	Pair Corr
0.67	WORX	Scworx Corp	Pair Corr
0.67	FIGS	Figs Inc	Pair Corr
0.63	EKSO	Ekso Bionics Holdings	Pair Corr
0.61	ELAB	Elevai Labs, Common	Pair Corr
0.56	VNRX	Volitionrx Earnings Call This Week	Pair Corr
0.5	ELMD	Electromed	Pair Corr
0.49	ENOV	Enovis Corp	Pair Corr
0.42	VERO	Venus Concept	Pair Corr
0.32	ENSG	Ensign Group	Pair Corr
0.31	VREX	Varex Imaging Corp	Pair Corr
0.74	CNC	Centene Corp	Pair Corr
0.73	DHR	Danaher	Pair Corr
0.61	AWH	Aspira Womens Health	Pair Corr
0.49	BDX	Becton Dickinson	Pair Corr
0.42	AMS	American Shared Hospital Earnings Call This Week	Pair Corr
0.4	DXR	Daxor	Pair Corr
0.34	XAIR	Beyond Air	Pair Corr
0.32	DVA	DaVita HealthCare	Pair Corr

Related Correlations Analysis

	TMDX	INSP	NARI	PODD	DXCM	EW	SWAV	SYK	BSX	ABT
TMDX		0.26	0.6	0.34	0.36	0.23	0.0	0.25	0.43	0.5	TMDX
INSP	0.26		-0.39	0.27	0.23	0.43	0.0	-0.03	-0.19	-0.32	INSP
NARI	0.6	-0.39		0.13	0.25	-0.19	0.0	0.42	0.71	0.87	NARI
PODD	0.34	0.27	0.13		0.87	0.24	0.0	0.69	0.64	0.19	PODD
DXCM	0.36	0.23	0.25	0.87		0.13	0.0	0.78	0.74	0.41	DXCM
EW	0.23	0.43	-0.19	0.24	0.13		0.0	-0.23	-0.19	-0.26	EW
SWAV	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	SWAV
SYK	0.25	-0.03	0.42	0.69	0.78	-0.23	0.0		0.82	0.65	SYK
BSX	0.43	-0.19	0.71	0.64	0.74	-0.19	0.0	0.82		0.8	BSX
ABT	0.5	-0.32	0.87	0.19	0.41	-0.26	0.0	0.65	0.8		ABT
	TMDX	INSP	NARI	PODD	DXCM	EW	SWAV	SYK	BSX	ABT

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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

ABT	+ 0.87	NARI
DXCM	+ 0.87	PODD
BSX	+ 0.82	SYK
ABT	+ 0.8	BSX
SYK	+ 0.78	DXCM
BSX	+ 0.74	DXCM

High negative correlations

NARI	- 0.39	INSP
ABT	- 0.32	INSP
ABT	- 0.26	EW
SYK	- 0.23	EW
BSX	- 0.19	EW
EW	- 0.19	NARI

Risk-Adjusted Indicators

There is a big difference between InMode Stock performing well and InMode 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 InMode'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
TMDX	3.39	0.21	0.05	0.07	3.76	(3.83)	7.19	(6.92)	18.92
INSP	2.23	(0.15)	0.00	(0.36)	0.00	0.00	5.02	(5.62)	18.61
NARI	2.19	0.70	0.51	(1.23)	1.00	(2.80)	4.52	(3.20)	30.79
PODD	1.39	0.02	0.00	(0.08)	0.00	0.00	3.65	(3.03)	9.83
DXCM	1.75	0.00	0.00	(0.11)	0.00	0.00	3.27	(3.22)	15.07
EW	1.11	0.00	0.00	(0.11)	0.00	0.00	2.94	(1.97)	9.48
SWAV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SYK	1.00	0.01	0.00	(0.10)	0.00	0.00	2.25	(1.71)	6.96
BSX	0.99	0.20	0.13	0.15	1.54	(0.96)	1.88	(2.65)	9.35
ABT	1.03	0.20	0.17	0.33	1.25	(1.02)	2.53	(1.91)	8.04

InMode Corporate Management

Brandon Nye	Vice US	Profile
Michael Dennison	Vice US	Profile
Yair Malca	Chief Officer	Profile
Alon Yaari	Vice Operations	Profile
Matt Rodgers	Vice Canada	Profile
Spero MD	Chief Officer	Profile

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