Masimo Correlations

MASI Stock

USD 132.76 0.52 0.39%

The current 90-days correlation between Masimo and Avantor is 0.22 (i.e., Modest diversification). The correlation of Masimo 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.

Masimo Correlation With Market

Modest diversification

The correlation between Masimo and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Masimo and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Masimo Stock

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

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

Moving together with Masimo Stock

0.74	688677	Qingdao NovelBeam	Pair Corr
0.69	688606	Hangzhou Alltest Biotech	Pair Corr
0.68	688289	Sansure Biotech	Pair Corr
0.63	VNRX	Volitionrx	Pair Corr
0.68	VVOS	Vivos Therapeutics	Pair Corr
0.64	OTC	Ocumetics Technology Corp	Pair Corr
0.78	ELAB	Elevai Labs, Common	Pair Corr
0.71	EMBC	Embecta Corp	Pair Corr
0.73	ENOV	Enovis Corp	Pair Corr

Moving against Masimo Stock

0.48	SPEC	Inspecs Group plc	Pair Corr
0.44	EW	Edwards Lifesciences Corp	Pair Corr
0.44	688656	HOB Biotech Group	Pair Corr
0.7	ELMD	Electromed	Pair Corr
0.65	EDAP	EDAP TMS SA Upward Rally	Pair Corr
0.56	BLCO	Bausch Lomb Corp	Pair Corr
0.72	FIGS	Figs Inc	Pair Corr
0.66	ESTA	Establishment Labs	Pair Corr
0.49	BB1	Blinklab	Pair Corr
0.46	601089	Beijing Winsunny Pha	Pair Corr
0.46	ALC	Alcon AG	Pair Corr

Related Correlations Analysis

	AVTR	ATR	BAX	ABVX	BIO	HSIC	RGEN	STVN	RYTM	MOH
AVTR		0.76	0.84	-0.61	0.33	-0.79	-0.16	0.72	0.08	0.7	AVTR
ATR	0.76		0.9	-0.55	-0.08	-0.67	-0.21	0.52	-0.02	0.82	ATR
BAX	0.84	0.9		-0.74	-0.11	-0.75	-0.26	0.57	-0.02	0.85	BAX
ABVX	-0.61	-0.55	-0.74		0.24	0.73	0.55	-0.64	0.39	-0.56	ABVX
BIO	0.33	-0.08	-0.11	0.24		-0.12	0.38	0.35	0.37	-0.26	BIO
HSIC	-0.79	-0.67	-0.75	0.73	-0.12		0.49	-0.76	0.07	-0.61	HSIC
RGEN	-0.16	-0.21	-0.26	0.55	0.38	0.49		-0.44	0.33	-0.38	RGEN
STVN	0.72	0.52	0.57	-0.64	0.35	-0.76	-0.44		-0.05	0.43	STVN
RYTM	0.08	-0.02	-0.02	0.39	0.37	0.07	0.33	-0.05		0.0	RYTM
MOH	0.7	0.82	0.85	-0.56	-0.26	-0.61	-0.38	0.43	0.0		MOH
	AVTR	ATR	BAX	ABVX	BIO	HSIC	RGEN	STVN	RYTM	MOH

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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

BAX	+ 0.9	ATR
MOH	+ 0.85	BAX
BAX	+ 0.84	AVTR
MOH	+ 0.82	ATR
ATR	+ 0.76	AVTR
HSIC	+ 0.73	ABVX

High negative correlations

HSIC	- 0.79	AVTR
STVN	- 0.76	HSIC
HSIC	- 0.75	BAX
ABVX	- 0.74	BAX
HSIC	- 0.67	ATR
STVN	- 0.64	ABVX

Risk-Adjusted Indicators

There is a big difference between Masimo Stock performing well and Masimo 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 Masimo'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
AVTR	2.29	(0.08)	(0.01)	0.02	4.28	(2.81)	5.41	(4.39)	32.74
ATR	0.97	(0.12)	0.00	(0.44)	0.00	0.00	1.62	(2.49)	7.77
BAX	1.67	(0.30)	0.00	(0.17)	0.00	0.00	2.82	(3.60)	17.76
ABVX	2.89	0.88	0.28	4.44	2.38	(3.45)	6.94	(5.16)	20.96
BIO	1.65	0.05	0.04	0.11	1.73	(2.05)	4.31	(3.17)	10.91
HSIC	1.14	0.24	0.12	(1.35)	1.12	(1.34)	2.28	(1.97)	13.49
RGEN	2.04	0.39	0.19	0.35	1.89	(2.50)	5.28	(2.78)	15.00
STVN	2.10	(0.43)	0.00	(0.19)	0.00	0.00	5.70	(4.31)	12.08
RYTM	1.95	0.13	0.06	0.18	2.51	(2.12)	4.03	(4.25)	15.72
MOH	1.96	(0.29)	0.00	(0.20)	0.00	0.00	3.36	(3.94)	21.47

Masimo Corporate Executives

Elected by the shareholders, the Masimo's board of directors comprises two types of representatives: Masimo inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Masimo. The board's role is to monitor Masimo's management team and ensure that shareholders' interests are well served. Masimo's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Masimo's outside directors are responsible for providing unbiased perspectives on the board's policies.

Micah CPA

Executive CFO

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