Myomo Correlations

MYO Stock

USD 5.31 0.13 2.39%

The current 90-days correlation between Myomo Inc and Rapid Micro Biosystems is 0.09 (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 0.12 (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

0.68	OM	Outset Medical	Pair Corr
0.65	VREX	Varex Imaging Corp	Pair Corr
0.64	VTAK	Catheter Precision	Pair Corr
0.77	EKSO	Ekso Bionics Holdings	Pair Corr
0.76	ELAB	Elevai Labs, Common Upward Rally	Pair Corr
0.8	EMBC	Embecta Corp	Pair Corr
0.76	ENOV	Enovis Corp	Pair Corr
0.78	WORX	Scworx Corp	Pair Corr
0.69	FIGS	Figs Inc	Pair Corr
0.68	AMS	American Shared Hospital Earnings Call This Week	Pair Corr
0.73	XAIR	Beyond Air	Pair Corr
0.7	AWH	Aspira Womens Health Earnings Call This Week	Pair Corr

Moving against Myomo Stock

0.74	CI	Cigna Corp	Pair Corr
0.63	FEMY	Femasys	Pair Corr
0.6	LH	Laboratory	Pair Corr
0.51	MD	Mednax Inc	Pair Corr
0.38	EHAB	Enhabit	Pair Corr
0.37	DOCS	Doximity	Pair Corr
0.84	BAX	Baxter International	Pair Corr
0.74	CHE	Chemed Corp	Pair Corr
0.72	DGX	Quest Diagnostics	Pair Corr
0.7	ABT	Abbott Laboratories	Pair Corr
0.69	CVS	CVS Health Corp Aggressive Push	Pair Corr
0.66	BKD	Brookdale Senior Living	Pair Corr
0.63	COR	Cencora	Pair Corr
0.62	ALC	Alcon AG	Pair Corr
0.53	AGL	agilon health	Pair Corr
0.45	CAH	Cardinal Health	Pair Corr

Related Correlations Analysis

	SINT	RSLS	BBLG	RMED	TIVC	BJDX	VVOS	RPID	TLIS	NUWE
SINT		-0.18	-0.05	0.0	0.31	-0.05	-0.25	0.14	0.0	0.15	SINT
RSLS	-0.18		0.58	0.0	-0.22	0.1	0.86	-0.82	0.0	-0.46	RSLS
BBLG	-0.05	0.58		0.0	0.0	0.0	0.33	-0.18	0.0	0.16	BBLG
RMED	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	RMED
TIVC	0.31	-0.22	0.0	0.0		-0.22	-0.21	0.52	0.0	0.25	TIVC
BJDX	-0.05	0.1	0.0	0.0	-0.22		-0.03	-0.34	0.0	0.07	BJDX
VVOS	-0.25	0.86	0.33	0.0	-0.21	-0.03		-0.73	0.0	-0.55	VVOS
RPID	0.14	-0.82	-0.18	0.0	0.52	-0.34	-0.73		0.0	0.58	RPID
TLIS	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	TLIS
NUWE	0.15	-0.46	0.16	0.0	0.25	0.07	-0.55	0.58	0.0		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

VVOS	+ 0.86	RSLS
BBLG	+ 0.58	RSLS
NUWE	+ 0.58	RPID
RPID	+ 0.52	TIVC
VVOS	+ 0.33	BBLG
TIVC	+ 0.31	SINT

High negative correlations

RPID	- 0.82	RSLS
RPID	- 0.73	VVOS
NUWE	- 0.55	VVOS
NUWE	- 0.46	RSLS
RPID	- 0.34	BJDX
VVOS	- 0.25	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	5.34	0.26	0.04	0.29	6.41	(7.26)	10.63	(12.39)	90.56
RSLS	5.53	(2.39)	0.00	(1.45)	0.00	0.00	6.50	(15.44)	64.76
BBLG	3.53	(0.42)	0.00	(0.41)	0.00	0.00	9.80	(7.87)	23.26
RMED	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TIVC	9.65	1.27	0.18	(1.19)	7.48	(14.46)	7.76	(13.84)	221.76
BJDX	5.78	0.39	0.05	0.24	6.88	(6.45)	12.20	(12.80)	42.86
VVOS	4.40	(0.17)	0.00	(0.35)	0.00	0.00	9.54	(10.34)	28.71
RPID	6.85	1.88	0.26	0.49	5.48	(9.01)	21.64	(10.00)	47.40
TLIS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NUWE	3.71	0.03	0.00	(0.05)	0.00	0.00	8.11	(6.92)	23.16

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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