Masimo Correlations

MASI Stock

USD 142.05 2.18 1.56%

The current 90-days correlation between Masimo and Avantor is 0.24 (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

Average diversification

The correlation between Masimo and DJI is 0.15 (i.e., Average 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 population.

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

Moving together with Masimo Stock

0.79	OTC	Ocumetics Technology Corp	Pair Corr
0.74	WOK	WORK Medical Technology	Pair Corr
0.72	300869	Contec Medical Systems	Pair Corr
0.7	ICCM	Icecure Medical	Pair Corr
0.8	IHC	Inspiration Healthcare	Pair Corr
0.61	300633	SonoScape Medical Corp	Pair Corr
0.76	LMAT	LeMaitre Vascular	Pair Corr

Moving against Masimo Stock

0.76	QIPT	Quipt Home Medical	Pair Corr
0.57	HAE	Haemonetics	Pair Corr
0.56	301370	GKHT Medical Technology	Pair Corr
0.44	688626	Xiangyu Medical	Pair Corr
0.32	AVR	Anteris Technologies	Pair Corr
0.78	688607	CareRay Digital Medical	Pair Corr
0.77	PROF	Profound Medical Corp	Pair Corr
0.73	PRN	Profound Medical Corp	Pair Corr
0.69	PINK	Perimeter Medical Imaging	Pair Corr
0.64	NVST	Envista Holdings Corp	Pair Corr
0.46	QDEL	Quidel	Pair Corr

Related Correlations Analysis

	AVTR	ATR	BAX	ABVX	BIO	HSIC	RGEN	STVN	RYTM	MOH
AVTR		0.75	0.9	-0.62	0.6	-0.65	-0.05	0.64	0.25	0.56	AVTR
ATR	0.75		0.85	-0.25	0.41	-0.35	0.26	0.25	0.41	0.64	ATR
BAX	0.9	0.85		-0.51	0.48	-0.55	0.03	0.48	0.35	0.72	BAX
ABVX	-0.62	-0.25	-0.51		-0.37	0.78	0.6	-0.79	0.06	-0.08	ABVX
BIO	0.6	0.41	0.48	-0.37		-0.27	0.35	0.52	-0.03	0.14	BIO
HSIC	-0.65	-0.35	-0.55	0.78	-0.27		0.56	-0.84	-0.24	-0.04	HSIC
RGEN	-0.05	0.26	0.03	0.6	0.35	0.56		-0.44	0.09	0.19	RGEN
STVN	0.64	0.25	0.48	-0.79	0.52	-0.84	-0.44		0.1	-0.05	STVN
RYTM	0.25	0.41	0.35	0.06	-0.03	-0.24	0.09	0.1		0.29	RYTM
MOH	0.56	0.64	0.72	-0.08	0.14	-0.04	0.19	-0.05	0.29		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	AVTR
BAX	+ 0.85	ATR
HSIC	+ 0.78	ABVX
ATR	+ 0.75	AVTR
MOH	+ 0.72	BAX
STVN	+ 0.64	AVTR

High negative correlations

STVN	- 0.84	HSIC
STVN	- 0.79	ABVX
HSIC	- 0.65	AVTR
ABVX	- 0.62	AVTR
HSIC	- 0.55	BAX
ABVX	- 0.51	BAX

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	2.00	(0.25)	0.00	(0.11)	0.00	0.00	4.82	(3.01)	28.26
ATR	1.01	(0.08)	0.00	(0.19)	0.00	0.00	1.73	(2.49)	7.63
BAX	1.65	(0.28)	0.00	(0.13)	0.00	0.00	2.82	(3.60)	15.51
ABVX	3.26	0.40	0.08	(0.83)	3.29	(3.94)	6.94	(6.09)	29.38
BIO	1.45	(0.08)	(0.02)	0.03	1.61	(1.84)	4.31	(2.90)	8.48
HSIC	1.18	0.31	0.21	0.72	0.99	(1.40)	2.43	(1.96)	13.49
RGEN	1.70	0.02	0.03	0.11	2.04	(1.86)	3.36	(3.14)	10.86
STVN	2.07	(0.45)	0.00	(0.15)	0.00	0.00	5.70	(4.31)	12.08
RYTM	2.39	(0.08)	0.00	(0.02)	0.00	0.00	4.03	(5.14)	18.69
MOH	2.09	(0.08)	(0.02)	0.02	4.15	(1.89)	3.97	(4.52)	19.99

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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