Masimo Correlations

MASI Stock

USD 175.37 0.01 0.01%

The current 90-days correlation between Masimo and Avantor is 0.02 (i.e., Significant 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 0.18 (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 main economic indicators.

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

Moving together with Masimo Stock

0.64	HYB	HOYA	Pair Corr
0.7	BLCO	Bausch Lomb Corp	Pair Corr
0.77	61R	GROUPE EUROMEDIS	Pair Corr

Moving against Masimo Stock

0.65	7D2A	SEDANA MEDICAL AB	Pair Corr
0.61	56S0	RENAUUNSPARD 15 EO	Pair Corr
0.6	IPD	Impedimed	Pair Corr
0.59	VNRX	Volitionrx	Pair Corr
0.57	56S1	Sartorius Stedim Biotech	Pair Corr
0.44	SI	Shoulder Innovations Earnings Call This Week	Pair Corr
0.42	OM	Outset Medical	Pair Corr
0.4	VERO	Venus Concept	Pair Corr
0.32	IL3	Integra LifeSciences	Pair Corr
0.31	49Z	Cellink AB	Pair Corr
0.85	OC5	Cochlear Limited	Pair Corr
0.81	GXI	Gerresheimer AG Earnings Call Today	Pair Corr
0.76	ELMD	Electromed	Pair Corr
0.68	OTC	Ocumetics Technology Corp	Pair Corr
0.61	BA3	Brooks Automation	Pair Corr
0.58	VVOS	Vivos Therapeutics	Pair Corr
0.42	VTAK	Catheter Precision	Pair Corr
0.64	SBS	Stratec SE	Pair Corr
0.58	XEJ	Accuray Incorporated	Pair Corr
0.54	EUDA	EUDA Health Holdings	Pair Corr
0.5	EMBC	Embecta Corp	Pair Corr
0.49	MM3	Merit Medical Systems	Pair Corr
0.44	2DR	Inspire Medical Systems	Pair Corr

Related Correlations Analysis

	AVTR	ATR	BAX	ABVX	BIO	HSIC	RGEN	STVN	RYTM	MOH
AVTR		-0.82	-0.23	-0.03	0.88	-0.46	0.91	0.65	0.53	0.63	AVTR
ATR	-0.82		0.6	0.05	-0.82	0.7	-0.89	-0.74	-0.59	-0.57	ATR
BAX	-0.23	0.6		-0.05	-0.38	0.57	-0.46	-0.6	-0.25	-0.14	BAX
ABVX	-0.03	0.05	-0.05		-0.14	0.11	0.14	0.16	0.22	-0.08	ABVX
BIO	0.88	-0.82	-0.38	-0.14		-0.53	0.84	0.78	0.43	0.42	BIO
HSIC	-0.46	0.7	0.57	0.11	-0.53		-0.6	-0.52	-0.45	-0.21	HSIC
RGEN	0.91	-0.89	-0.46	0.14	0.84	-0.6		0.83	0.57	0.56	RGEN
STVN	0.65	-0.74	-0.6	0.16	0.78	-0.52	0.83		0.46	0.21	STVN
RYTM	0.53	-0.59	-0.25	0.22	0.43	-0.45	0.57	0.46		0.27	RYTM
MOH	0.63	-0.57	-0.14	-0.08	0.42	-0.21	0.56	0.21	0.27		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

RGEN	+ 0.91	AVTR
BIO	+ 0.88	AVTR
RGEN	+ 0.84	BIO
STVN	+ 0.83	RGEN
STVN	+ 0.78	BIO
HSIC	+ 0.7	ATR

High negative correlations

RGEN	- 0.89	ATR
BIO	- 0.82	ATR
ATR	- 0.82	AVTR
STVN	- 0.74	ATR
RGEN	- 0.6	HSIC
STVN	- 0.6	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	1.77	(0.49)	0.00	(0.28)	0.00	0.00	3.20	(3.59)	21.90
ATR	1.15	0.14	0.09	0.19	1.26	(1.32)	2.93	(1.98)	10.37
BAX	1.87	0.00	0.00	0.03	3.47	(1.82)	4.80	(3.35)	21.62
ABVX	2.97	(0.04)	0.00	(0.10)	0.00	0.00	6.20	(6.57)	29.38
BIO	1.26	(0.22)	0.00	(0.27)	0.00	0.00	2.26	(2.65)	17.85
HSIC	1.29	0.08	0.05	0.12	1.48	(1.37)	2.90	(2.33)	7.52
RGEN	1.50	(0.50)	0.00	(0.35)	0.00	0.00	2.87	(3.68)	8.92
STVN	2.53	(0.42)	0.00	(0.15)	0.00	0.00	4.36	(5.60)	15.57
RYTM	2.49	(0.25)	0.00	1.51	0.00	0.00	4.55	(5.14)	18.69
MOH	2.37	0.14	0.01	(0.09)	5.82	(2.07)	4.39	(4.99)	29.91

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

Profile

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