In "He is also sad," for instance, "also" is modifying the verb "is." To see why, consider these sentences:
- He is still sad.
- He still appears sad.
- He is very sad.
- He appears very sad.
To oversimplify things a bit: when an adverb is modifying a verb, it needs to follow certain rules regarding its position in a sentence. These rules are different when the verb in question is an auxiliary verb, including to be when it gets used as a main verb as in (1). So, when you replace the auxiliary verb with an ordinary verb, as in (2), the position of the adverb still has to change: "He appears still sad" sounds quite bad.
But when an adverb is modifying an adjective, no such rule applies. So the position of "very" is the same in (4) as it is in (3). In fact, "He very appears sad" is completely incorrect because "very" generally cannot modify verbs directly.
So, back to our example: "He is also sad." If "also" is modifying "is," we would expect this sentence to be acceptable:
- He also appears sad.
On the other hand, if "also" is modifying "sad," we would expect this sentence to be acceptable:
- * He appears also sad.
I think most would agree that (6) is quite awkward, much like "He appears still sad." So we conclude that "also" is modifying the verb "is."
"Also" is occasionally used to modify adjectives, as in your example with "The also relevant point..." But this usage is quite rare; I would classify it as nonstandard.