INMD vs TPST: Correlation
Measured on weekly returns over the past three years, InMode Ltd. (INMD) and Tempest Therapeutics, Inc. (TPST) carry a correlation of -0.38, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INMD and TPST?
Over the past 3 years, INMD and TPST moved with a correlation of -0.38, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.04 versus -0.38 over 3 years. Over 5 years the correlation is -0.23, and the annualized covariance of weekly returns is -11637.6 %².
Out of 14 assets tracked against INMD, TPST lands near the bottom at #12. Correlation aside, the last 12 months split them widely, with INMD ahead by 87.7 points (-2.3% versus -90.0%). Note the risk asymmetry: TPST runs 20.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
INMD vs TPST: side by side
| INMD (InMode Ltd.) | TPST (Tempest Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -2.3% | -90.0% |
| 5-year return | -77.7% | -99.4% |
| Volatility (ann.) | 38.9% | 782.8% |
| Beta vs S&P 500 | 1.09 | 1.97 |
| Max drawdown (3Y) | -68.2% | -99.3% |
| Market cap | $0.9B | – |
| P/E (trailing) | 12.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INMD | TPST |
|---|---|---|
| 2022 | -49.4% | -78.2% |
| 2023 | -37.7% | +282.6% |
| 2024 | -24.9% | -81.0% |
| 2025 | -12.0% | -73.6% |
| 2026 | +1.0% | -62.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INMD and TPST good diversifiers for each other?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
FAQ
What is the correlation between INMD and TPST?
The INMD/TPST correlation stands at -0.38 on a 3-year window (1 year: -0.04, 5 years: -0.23), computed from weekly returns as of 2026-08-27.
Is TPST a good diversifier for INMD?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
What does a correlation of -0.38 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.
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Related comparisons
Hubs: INMD correlations · TPST correlations
