ATRC vs INMD: Correlation
How closely do AtriCure, Inc. (ATRC) and InMode Ltd. (INMD) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATRC and INMD?
Across a 3-year window, the weekly returns of ATRC and INMD correlate at 0.42, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.26 versus 0.42 over 3 years. Stretching to 5 years gives 0.44, with an annualized covariance of 748.6 %².
By 3-year correlation, INMD places #4 of the 10 assets tracked against ATRC. Correlation aside, the last 12 months split them widely, with ATRC ahead by 34.4 points (+32.1% versus -2.3%).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ATRC vs INMD: side by side
| ATRC (AtriCure, Inc.) | INMD (InMode Ltd.) | |
|---|---|---|
| 1-year return | +32.1% | -2.3% |
| 5-year return | -33.3% | -77.7% |
| Volatility (ann.) | 45.4% | 38.9% |
| Beta vs S&P 500 | 0.97 | 1.09 |
| Max drawdown (3Y) | -57.3% | -68.2% |
| Market cap | $2.5B | $0.9B |
| P/E (trailing) | 224.0 | 12.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ATRC | INMD |
|---|---|---|
| 2022 | -36.2% | -49.4% |
| 2023 | -19.6% | -37.7% |
| 2024 | -14.4% | -24.9% |
| 2025 | +29.5% | -12.0% |
| 2026 | +24.5% | +1.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATRC and INMD good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ATRC and INMD?
As of 2026-08-27, the correlation of weekly returns between ATRC and INMD is 0.42 over 3 years, 0.26 over 1 year and 0.44 over 5 years.
Is INMD a good diversifier for ATRC?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
A reading of 0.42 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ATRC correlations · INMD correlations
