Moderna Correlations

MRNA Stock

USD 33.81 0.90 2.59%

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

Modest diversification

The correlation between Moderna and DJI is 0.21 (i.e., Modest 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.

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 board of governors.

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

Moving together with Moderna Stock

0.73	ME	23Andme Holding	Pair Corr
0.68	VANI	Vivani Medical Earnings Call This Week	Pair Corr
0.74	VERA	Vera Therapeutics	Pair Corr
0.71	DSGN	Design Therapeutics	Pair Corr
0.69	VINC	Vincerx Pharma	Pair Corr
0.79	VKTX	Viking Therapeutics	Pair Corr
0.74	VRDN	Viridian Therapeutics Downward Rally	Pair Corr
0.62	VRPX	Virpax Pharmaceuticals	Pair Corr
0.71	VTRS	Viatris	Pair Corr
0.82	VTYX	Ventyx Biosciences	Pair Corr

Moving against Moderna Stock

0.74	VALN	Valneva SE ADR	Pair Corr
0.53	VIGL	Vigil Neuroscience	Pair Corr
0.5	DMAC	DiaMedica Therapeutics	Pair Corr
0.46	EQ	Equillium	Pair Corr
0.38	DVAX	Dynavax Technologies	Pair Corr
0.75	VRNA	Verona Pharma PLC	Pair Corr
0.53	VTVT	vTv Therapeutics Trending	Pair Corr
0.51	VRTX	Vertex Pharmaceuticals	Pair Corr
0.44	EDSA	Edesa Biotech	Pair Corr
0.37	SRZNW	Surrozen Warrant	Pair Corr

Related Correlations Analysis

	CVAC	NVAX	CWBR	RETA	OCEA	ENVB	HEPA	ELEV	AVRO
CVAC		0.55	0.0	0.0	0.28	0.36	0.17	0.72	0.0	CVAC
NVAX	0.55		0.0	0.0	0.66	0.73	0.55	0.64	0.0	NVAX
CWBR	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	CWBR
RETA	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	RETA
OCEA	0.28	0.66	0.0	0.0		0.95	0.94	0.6	0.0	OCEA
ENVB	0.36	0.73	0.0	0.0	0.95		0.86	0.56	0.0	ENVB
HEPA	0.17	0.55	0.0	0.0	0.94	0.86		0.59	0.0	HEPA
ELEV	0.72	0.64	0.0	0.0	0.6	0.56	0.59		0.0	ELEV
AVRO	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		AVRO
	CVAC	NVAX	CWBR	RETA	OCEA	ENVB	HEPA	ELEV	AVRO

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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

ENVB	+ 0.95	OCEA
HEPA	+ 0.94	OCEA
HEPA	+ 0.86	ENVB
ENVB	+ 0.73	NVAX
ELEV	+ 0.72	CVAC
OCEA	+ 0.66	NVAX

High negative correlations

AVRO	- 0.0	ELEV
AVRO	- 0.0	HEPA
AVRO	- 0.0	ENVB
AVRO	- 0.0	OCEA
AVRO	- 0.0	RETA
ELEV	- 0.0	RETA

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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
CVAC	3.39	0.04	(0.05)	8.22	(6.41)	32.27
NVAX	3.15	0.11	(0.02)	8.15	(7.26)	23.51
CWBR	0.00	0.00	0.00	0.00	0.00	0.00
RETA	0.00	0.00	0.00	0.00	0.00	0.00
OCEA	7.04	(3.22)	3.28	15.38	(15.19)	51.00
ENVB	6.95	(0.63)	(0.53)	12.04	(13.87)	113.38
HEPA	9.76	(3.68)	(8.31)	17.65	(31.91)	86.86
ELEV	4.54	0.01	(0.08)	10.00	(8.22)	40.61
AVRO	0.00	0.00	0.00	0.00	0.00	0.00

Moderna Corporate Management

Shannon Klinger	Chief Secretary	Profile
Brad Miller	Chief Officer	Profile
Melanie MBA	Chief Officer	Profile
James Mock	Chief Officer	Profile
Stephane Bancel	CEO Director	Profile
John Reynders	Chief Officer	Profile
Ruchi Jain	Principal Scientist	Profile

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