ICU Medical Correlations

ICUI Stock

USD 168.84 1.25 0.75%

The current 90-days correlation between ICU Medical and Merit Medical Systems is 0.33 (i.e., Weak diversification). The correlation of ICU Medical is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

ICU Medical Correlation With Market

Very weak diversification

The correlation between ICU Medical and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ICU Medical and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in ICU Medical. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

For more detail on how to invest in ICU Stock please use our How to Invest in ICU Medical guide.

Moving together with ICU Stock

0.9

VRDN

Viridian Therapeutics

Pair Corr

Moving against ICU Stock

0.71	IVP	Inspire Veterinary	Pair Corr
0.62	FORA	Forian Inc	Pair Corr
0.45	ENOV	Enovis Corp	Pair Corr
0.36	AMN	AMN Healthcare Services	Pair Corr
0.7	BACK	IMAC Holdings	Pair Corr
0.63	VCNX	Vaccinex	Pair Corr
0.6	VALN	Valneva SE ADR Downward Rally	Pair Corr
0.38	CYRX	Cryoport	Pair Corr
0.55	FBRX	Forte Biosciences Trending	Pair Corr

Related Correlations Analysis

	MMSI	COO	ANGO	ATR	HOLX	HAE	NVST	AKYA	ATRC	ATRI
MMSI		0.0	0.09	0.54	-0.36	0.72	0.75	-0.02	0.82	0.02	MMSI
COO	0.0		-0.02	-0.05	0.51	-0.34	-0.17	0.39	-0.16	-0.73	COO
ANGO	0.09	-0.02		-0.45	0.16	0.04	0.04	-0.32	-0.17	-0.04	ANGO
ATR	0.54	-0.05	-0.45		-0.31	0.53	0.69	0.47	0.83	0.24	ATR
HOLX	-0.36	0.51	0.16	-0.31		-0.64	-0.33	0.15	-0.39	-0.3	HOLX
HAE	0.72	-0.34	0.04	0.53	-0.64		0.64	0.08	0.67	0.25	HAE
NVST	0.75	-0.17	0.04	0.69	-0.33	0.64		0.17	0.85	0.25	NVST
AKYA	-0.02	0.39	-0.32	0.47	0.15	0.08	0.17		0.22	-0.25	AKYA
ATRC	0.82	-0.16	-0.17	0.83	-0.39	0.67	0.85	0.22		0.25	ATRC
ATRI	0.02	-0.73	-0.04	0.24	-0.3	0.25	0.25	-0.25	0.25		ATRI
	MMSI	COO	ANGO	ATR	HOLX	HAE	NVST	AKYA	ATRC	ATRI

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

ATRC	+ 0.85	NVST
ATRC	+ 0.83	ATR
ATRC	+ 0.82	MMSI
NVST	+ 0.75	MMSI
HAE	+ 0.72	MMSI
NVST	+ 0.69	ATR

High negative correlations

ATRI	- 0.73	COO
HAE	- 0.64	HOLX
ATR	- 0.45	ANGO
ATRC	- 0.39	HOLX
HOLX	- 0.36	MMSI
HAE	- 0.34	COO

Risk-Adjusted Indicators

There is a big difference between ICU Stock performing well and ICU Medical Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze ICU Medical's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MMSI	0.88	0.15	0.10	0.37	0.71	(0.95)	2.11	(1.23)	6.42
COO	0.87	0.07	0.00	0.30	0.87	(0.94)	1.39	(1.64)	13.98
ANGO	2.12	(0.07)	0.00	0.20	0.00	0.00	3.71	(4.03)	19.00
ATR	0.71	0.13	0.08	0.31	0.88	(0.75)	1.47	(1.37)	7.86
HOLX	0.88	0.01	0.00	0.08	0.00	0.00	1.81	(1.79)	8.14
HAE	1.44	0.10	0.07	0.21	1.37	(1.69)	4.24	(2.10)	14.50
NVST	1.84	0.23	0.06	(1.73)	1.76	(2.19)	3.96	(2.68)	13.77
AKYA	3.99	(0.29)	0.00	(0.01)	0.00	0.00	9.32	(4.96)	40.94
ATRC	1.93	0.51	0.28	0.51	1.41	(2.32)	4.67	(3.12)	23.09
ATRI	0.39	0.00	0.00	0.12	0.00	0.00	0.94	(1.35)	6.29

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC