Correlation Between Interactive Strength and InMode
Can any of the company-specific risk be diversified away by investing in both Interactive Strength and InMode at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Interactive Strength and InMode into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Interactive Strength Common and InMode, you can compare the effects of market volatilities on Interactive Strength and InMode and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Interactive Strength with a short position of InMode. Check out your portfolio center. Please also check ongoing floating volatility patterns of Interactive Strength and InMode.
Diversification Opportunities for Interactive Strength and InMode
-0.25 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Interactive and InMode is -0.25. Overlapping area represents the amount of risk that can be diversified away by holding Interactive Strength Common and InMode in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on InMode and Interactive Strength is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Interactive Strength Common are associated (or correlated) with InMode. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of InMode has no effect on the direction of Interactive Strength i.e., Interactive Strength and InMode go up and down completely randomly.
Pair Corralation between Interactive Strength and InMode
Given the investment horizon of 90 days Interactive Strength Common is expected to under-perform the InMode. In addition to that, Interactive Strength is 2.83 times more volatile than InMode. It trades about -0.08 of its total potential returns per unit of risk. InMode is currently generating about 0.02 per unit of volatility. If you would invest 1,435 in InMode on August 15, 2025 and sell it today you would earn a total of 26.00 from holding InMode or generate 1.81% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Interactive Strength Common vs. InMode
Performance |
| Timeline |
| Interactive Strength |
| InMode |
Interactive Strength and InMode Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Interactive Strength and InMode
The main advantage of trading using opposite Interactive Strength and InMode positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Interactive Strength position performs unexpectedly, InMode can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in InMode will offset losses from the drop in InMode's long position.| Interactive Strength vs. E Home Household Service | Interactive Strength vs. Naas Technology ADR | Interactive Strength vs. XWELL Inc | Interactive Strength vs. Jowell Global |
| InMode vs. Tandem Diabetes Care | InMode vs. Iradimed Co | InMode vs. Axogen Inc | InMode vs. Integra LifeSciences Holdings |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Global Correlations module to find global opportunities by holding instruments from different markets.
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