CRI vs MODD: Correlation
Measured on weekly returns over the past three years, Carter's, Inc. (CRI) and Modular Medical, Inc. (MODD) carry a correlation of 0.35, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRI and MODD?
Over the past 3 years, CRI and MODD moved with a correlation of 0.35, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.45 versus 0.35 over 3 years. Over 5 years the correlation is 0.26, and the annualized covariance of weekly returns is 1178.2 %².
By 3-year correlation, MODD places #6 of the 11 assets tracked against CRI. The last year tells two different stories: CRI led by 104.6 percentage points, +20.8% for CRI against -83.8% for MODD. Risk is not evenly split, since MODD carries 2.0 times the volatility of the other side.
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.
CRI vs MODD: side by side
| CRI (Carter's, Inc.) | MODD (Modular Medical, Inc.) | |
|---|---|---|
| 1-year return | +20.8% | -83.8% |
| 5-year return | -61.2% | -96.8% |
| Volatility (ann.) | 40.6% | 81.8% |
| Beta vs S&P 500 | 0.79 | 1.03 |
| Max drawdown (3Y) | -71.3% | -97.4% |
| Market cap | $1.2B | – |
| P/E (trailing) | 6.4 | – |
| Dividend yield | 2.92% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRI | MODD |
|---|---|---|
| 2022 | -23.4% | – |
| 2023 | +4.9% | -9.0% |
| 2024 | -24.0% | -24.7% |
| 2025 | -37.4% | -73.4% |
| 2026 | +4.3% | -66.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRI and MODD good diversifiers for each other?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CRI and MODD?
As of 2026-08-27, the correlation of weekly returns between CRI and MODD is 0.35 over 3 years, 0.45 over 1 year and 0.26 over 5 years.
Is MODD a good diversifier for CRI?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.35 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cri-vs-modd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cri-vs-modd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CRI correlations · MODD correlations
