Myomo Correlations

MYO Stock

USD 1.99 0.06 2.93%

The current 90-days correlation between Myomo Inc and Nuwellis is -0.05 (i.e., Good 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

Modest diversification

The correlation between Myomo Inc and DJI is 0.2 (i.e., Modest 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.

Build AI portfolio with Myomo Stock

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

0.69	CI	Cigna Corp	Pair Corr
0.9	EKSO	Ekso Bionics Holdings	Pair Corr
0.75	ELMD	Electromed	Pair Corr
0.76	EMBC	Embecta Corp	Pair Corr
0.66	ICCM	Icecure Medical	Pair Corr
0.84	MSPRW	MSP Recovery Symbol Change	Pair Corr
0.7	MSPRZ	MSP Recovery Symbol Change	Pair Corr
0.72	MLSS	Milestone Scientific	Pair Corr
0.85	MNDR	Mobile health Network	Pair Corr

Moving against Myomo Stock

0.94	DH	Definitive Healthcare	Pair Corr
0.87	OM	Outset Medical	Pair Corr
0.84	VEEV	Veeva Systems Class	Pair Corr
0.73	LH	Laboratory Earnings Call This Week	Pair Corr
0.73	VNRX	Volitionrx	Pair Corr
0.7	DXCM	DexCom Inc Earnings Call This Week	Pair Corr
0.54	EW	Edwards Lifesciences Corp Earnings Call This Week	Pair Corr
0.45	DOCS	Doximity	Pair Corr
0.37	GH	Guardant Health	Pair Corr
0.86	FIGS	Figs Inc	Pair Corr
0.85	MDAI	Spectral AI	Pair Corr
0.79	ENSG	Ensign Group Earnings Call This Week	Pair Corr
0.56	VVOS	Vivos Therapeutics	Pair Corr
0.31	ABT	Abbott Laboratories	Pair Corr
0.72	MHUA	Meihua International	Pair Corr
0.71	MODV	ModivCare	Pair Corr
0.66	NAKA	Kindly MD, Symbol Change	Pair Corr
0.51	NEUE	NeueHealth	Pair Corr
0.39	MGRM	Monogram Orthopaedics Trending	Pair Corr

Related Correlations Analysis

	NUWE	TLIS	TIVC	TNON	LNSR	MYSZ	CAPR	MBOT
NUWE		0.0	0.37	0.8	0.89	0.23	-0.05	0.07	NUWE
TLIS	0.0		0.0	0.0	0.0	0.0	0.0	0.0	TLIS
TIVC	0.37	0.0		0.42	0.42	0.49	0.32	-0.24	TIVC
TNON	0.8	0.0	0.42		0.91	0.47	-0.16	0.09	TNON
LNSR	0.89	0.0	0.42	0.91		0.4	-0.1	0.13	LNSR
MYSZ	0.23	0.0	0.49	0.47	0.4		0.15	-0.36	MYSZ
CAPR	-0.05	0.0	0.32	-0.16	-0.1	0.15		-0.07	CAPR
MBOT	0.07	0.0	-0.24	0.09	0.13	-0.36	-0.07		MBOT
	NUWE	TLIS	TIVC	TNON	LNSR	MYSZ	CAPR	MBOT

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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

LNSR	+ 0.91	TNON
LNSR	+ 0.89	NUWE
TNON	+ 0.8	NUWE
MYSZ	+ 0.49	TIVC
MYSZ	+ 0.47	TNON
TNON	+ 0.42	TIVC

High negative correlations

MBOT	- 0.36	MYSZ
MBOT	- 0.24	TIVC
CAPR	- 0.16	TNON
CAPR	- 0.1	LNSR
MBOT	- 0.07	CAPR
CAPR	- 0.05	NUWE

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
NUWE	8.67	(0.22)	(0.01)	0.00	11.26	(11.01)	11.11	(14.84)	132.35
TLIS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TIVC	4.80	(0.20)	0.06	0.10	5.70	(6.62)	7.36	(5.54)	132.46
TNON	2.42	(0.27)	0.00	(0.03)	0.00	0.00	5.88	(5.77)	26.41
LNSR	0.88	(0.08)	0.00	(0.64)	0.00	0.00	2.04	(2.89)	6.10
MYSZ	3.20	0.06	(0.01)	0.52	3.76	(3.61)	7.25	(6.15)	21.56
CAPR	6.75	0.43	0.00	(0.06)	11.32	(6.52)	16.53	(15.49)	57.62
MBOT	3.49	0.04	0.02	0.16	4.38	(3.61)	7.41	(6.67)	28.21

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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