Modus Therapeutics Correlations
| MODTX Stock | 0.30 0.02 6.25% |
The current 90-days correlation between Modus Therapeutics and 2cureX AB is -0.07 (i.e., Good diversification). The correlation of Modus Therapeutics 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Modus Therapeutics Correlation With Market
Average diversification
The correlation between Modus Therapeutics Holding and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Modus Therapeutics Holding and DJI in the same portfolio, assuming nothing else is changed.
Modus |
The ability to find closely correlated positions to Modus Therapeutics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Modus Therapeutics when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Modus Therapeutics - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Modus Therapeutics Holding to buy it.
Moving together with Modus Stock
| 0.79 | HEART | Real Heart | PairCorr |
| 0.64 | IBT-B | Infant Bacterial | PairCorr |
| 0.63 | XINT | Xintela AB | PairCorr |
| 0.69 | CMH | Chordate Medical Holding | PairCorr |
Moving against Modus Stock
| 0.82 | SYNSAM | Synsam AB | PairCorr |
| 0.72 | LIPUM | Lipum AB | PairCorr |
| 0.46 | BIOA-B | BioArctic AB | PairCorr |
| 0.43 | XSPRAY | XSpray Pharma AB | PairCorr |
| 0.39 | BUFAB | Bufab Holding AB | PairCorr |
| 0.38 | BINV | BioInvent International | PairCorr |
| 0.32 | ARCT | Arctic Gold Publ | PairCorr |
| 0.8 | SAND | Sandvik AB | PairCorr |
| 0.8 | RUSTA | Rusta AB | PairCorr |
| 0.77 | MTRS | Munters Group AB | PairCorr |
| 0.77 | BEIA-B | Beijer Alma AB | PairCorr |
| 0.71 | OBAB | Online Brands Nordic | PairCorr |
| 0.63 | SKIS-B | SkiStar AB | PairCorr |
| 0.59 | BRE2 | Bredband2 i Skandinavien | PairCorr |
| 0.56 | THUNDR | Thunderful Group | PairCorr |
| 0.54 | WAYS | Waystream Holding | PairCorr |
| 0.51 | SAAB-B | Saab AB | PairCorr |
| 0.5 | EXS | Exsitec Holding AB | PairCorr |
| 0.5 | ALFA | Alfa Laval AB | PairCorr |
| 0.45 | PRISMA | Prisma Properties | PairCorr |
| 0.44 | POLYG | Polygiene AB | PairCorr |
| 0.41 | SKF-A | AB SKF | PairCorr |
| 0.32 | EOLU-B | Eolus Vind AB | PairCorr |
| 0.87 | PACT | Proact IT Group | PairCorr |
| 0.83 | INFREA | Infrea AB | PairCorr |
| 0.81 | NFGAB | Nordic Flanges Group | PairCorr |
| 0.8 | CANTA | Cantargia AB | PairCorr |
| 0.72 | SYSR | Systemair AB | PairCorr |
| 0.66 | SDS | Seamless Distribution | PairCorr |
| 0.59 | CX | CombinedX AB | PairCorr |
| 0.56 | BEGR | BE Group AB | PairCorr |
Related Correlations Analysis
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
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Risk-Adjusted Indicators
There is a big difference between Modus Stock performing well and Modus Therapeutics 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 Modus Therapeutics' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| EXPRS2 | 2.67 | (0.20) | 0.00 | 0.59 | 0.00 | 5.27 | 18.15 | |||
| 2CUREX | 7.12 | 1.65 | 0.19 | (2.24) | 6.76 | 11.52 | 141.33 | |||
| AINO | 6.08 | 0.03 | 0.02 | 0.10 | 6.89 | 20.00 | 50.25 | |||
| GUARD | 6.45 | (1.12) | 0.00 | (0.58) | 0.00 | 11.20 | 99.09 | |||
| EPIS-B | 3.81 | 0.00 | 0.01 | 0.09 | 4.30 | 7.67 | 42.09 | |||
| STABL | 6.04 | 0.00 | (0.01) | 0.05 | 5.86 | 10.53 | 63.79 | |||
| SIMRIS-B | 4.93 | (1.23) | 0.00 | 16.50 | 0.00 | 9.20 | 65.01 | |||
| FLUI | 3.72 | (0.51) | 0.00 | 0.78 | 0.00 | 6.45 | 34.82 | |||
| QLIFE | 6.24 | 0.41 | 0.06 | 0.84 | 6.13 | 19.91 | 63.35 | |||
| LPGO | 7.09 | (1.12) | 0.00 | (1.05) | 0.00 | 8.33 | 101.05 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Modus Therapeutics without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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