MODD vs XWEL: Correlation
Modular Medical, Inc. (MODD) and XWELL, Inc. (XWEL) show a negative relationship: their 3-year correlation of weekly returns is -0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MODD and XWEL?
Over the past 3 years, MODD and XWEL moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.42) than the 3-year average (-0.28). Over 5 years the correlation is -0.23, and the annualized covariance of weekly returns is -4283.8 %².
Out of 10 assets tracked against MODD, XWEL lands near the bottom at #9. Their recent paths diverged sharply: over the last 12 months XWEL outperformed by 76.3 percentage points (-83.8% for MODD against -7.5% for XWEL). Risk is not evenly split, since XWEL carries 2.3 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.
MODD vs XWEL: side by side
| MODD (Modular Medical, Inc.) | XWEL (XWELL, Inc.) | |
|---|---|---|
| 1-year return | -83.8% | -7.5% |
| 5-year return | -96.8% | -97.2% |
| Volatility (ann.) | 81.8% | 188.4% |
| Beta vs S&P 500 | 1.03 | 0.41 |
| Max drawdown (3Y) | -97.4% | -92.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MODD | XWEL |
|---|---|---|
| 2022 | – | -82.2% |
| 2023 | -9.0% | -75.8% |
| 2024 | -24.7% | -13.2% |
| 2025 | -73.4% | -69.5% |
| 2026 | -66.9% | +115.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MODD and XWEL good diversifiers for each other?
Yes. With a correlation of -0.28, MODD and XWEL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MODD and XWEL?
Using weekly returns as of 2026-08-27: -0.28 over 3 years, with -0.42 over the last year and -0.23 over 5 years.
Is XWEL a good diversifier for MODD?
Yes. With a correlation of -0.28, MODD and XWEL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 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/modd-vs-xwel.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/modd-vs-xwel/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MODD correlations · XWEL correlations
