FRNM vs MODD: Correlation
Freenome, Inc. (FRNM) and Modular Medical, Inc. (MODD) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRNM and MODD?
Over the past 3 years, FRNM and MODD moved with a correlation of 0.40, which is moderate. Little has changed lately, as the 1-year reading of 0.48 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 717.3 %².
Within FRNM's tracked universe of 34 assets, MODD comes in at #4 by 3-year correlation. The last year tells two different stories: FRNM led by 116.1 percentage points, +32.3% for FRNM against -83.8% for MODD. One caveat on sizing: MODD is 3.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
FRNM vs MODD: side by side
| FRNM (Freenome, Inc.) | MODD (Modular Medical, Inc.) | |
|---|---|---|
| 1-year return | +32.3% | -83.8% |
| 5-year return | n/a | -96.8% |
| Volatility (ann.) | 21.1% | 81.8% |
| Beta vs S&P 500 | 0.03 | 1.03 |
| Max drawdown (3Y) | -29.6% | -97.4% |
| Market cap | $1.5B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FRNM | MODD |
|---|---|---|
| 2023 | – | -9.0% |
| 2024 | – | -24.7% |
| 2025 | +28.0% | -73.4% |
| 2026 | +7.0% | -66.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRNM and MODD good diversifiers for each other?
Reasonably. At 0.40, FRNM and MODD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FRNM and MODD?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.48 over the last year and n/a over 5 years.
Is MODD a good diversifier for FRNM?
Reasonably. At 0.40, FRNM and MODD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 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/frnm-vs-modd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/frnm-vs-modd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FRNM correlations · MODD correlations
