Merit Medical Correlations
| MMSI Stock | USD 105.33 0.30 0.29% |
The current 90-days correlation between Merit Medical Systems and Heartbeam is 0.06 (i.e., Significant diversification). The correlation of Merit 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.
Merit Medical Correlation With Market
Weak diversification
The correlation between Merit Medical Systems and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Merit Medical Systems and DJI in the same portfolio, assuming nothing else is changed.
Merit |
Moving together with Merit Stock
| 0.7 | DOCS | Doximity | PairCorr |
| 0.61 | ENOV | Enovis Corp | PairCorr |
| 0.8 | FOXO | FOXO Technologies | PairCorr |
| 0.72 | ITGR | Integer Holdings Corp | PairCorr |
| 0.74 | OMIC | Singular Genomics Systems | PairCorr |
| 0.84 | CRVL | CorVel Corp Normal Trading | PairCorr |
| 0.76 | EXEL | Exelixis | PairCorr |
| 0.66 | BMY | Bristol Myers Squibb Aggressive Push | PairCorr |
Moving against Merit Stock
| 0.72 | EVH | Evolent Health | PairCorr |
| 0.7 | AMN | AMN Healthcare Services | PairCorr |
| 0.67 | PHG | Koninklijke Philips | PairCorr |
| 0.66 | AGL | agilon health | PairCorr |
| 0.59 | FIGS | Figs Inc | PairCorr |
| 0.48 | FORA | Forian Inc | PairCorr |
| 0.43 | IVP | Inspire Veterinary | PairCorr |
| 0.42 | CVS | CVS Health Corp Aggressive Push | PairCorr |
| 0.69 | VALN | Valneva SE ADR | PairCorr |
| 0.68 | EQ | Equillium | PairCorr |
| 0.57 | ME | 23Andme Holding | PairCorr |
| 0.54 | ADUS | Addus HomeCare | PairCorr |
| 0.47 | BACK | IMAC Holdings | PairCorr |
| 0.45 | A | Agilent Technologies Earnings Call Tomorrow | PairCorr |
| 0.4 | ATPC | Agape ATP | PairCorr |
| 0.82 | LLY | Eli Lilly Sell-off Trend | PairCorr |
| 0.74 | PFE | Pfizer Inc Aggressive Push | PairCorr |
| 0.66 | JNJ | Johnson Johnson Sell-off Trend | PairCorr |
| 0.61 | EXAS | EXACT Sciences Sell-off Trend | PairCorr |
| 0.59 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
| 0.43 | HLN | Haleon plc | PairCorr |
Related Correlations Analysis
| 0.41 | 0.45 | 0.69 | -0.42 | 0.0 | BEAT | ||
| 0.41 | 0.2 | 0.4 | -0.42 | 0.5 | EUDA | ||
| 0.45 | 0.2 | 0.62 | -0.48 | -0.09 | NUTX | ||
| 0.69 | 0.4 | 0.62 | -0.62 | -0.06 | HCTI | ||
| -0.42 | -0.42 | -0.48 | -0.62 | 0.19 | MGRX | ||
| 0.0 | 0.5 | -0.09 | -0.06 | 0.19 | ACON | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Merit Stock performing well and Merit 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 Merit 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BEAT | 3.32 | 0.27 | 0.08 | 0.34 | 3.32 | 10.30 | 22.69 | |||
| EUDA | 4.61 | 0.09 | 0.01 | 0.27 | 6.74 | 9.70 | 26.33 | |||
| NUTX | 5.46 | 0.71 | 0.13 | 0.61 | 5.30 | 11.28 | 47.75 | |||
| HCTI | 7.71 | 2.10 | 0.20 | 6.22 | 8.22 | 10.34 | 131.09 | |||
| MGRX | 4.39 | (0.57) | 0.00 | (9.18) | 0.00 | 7.29 | 37.65 | |||
| ACON | 4.36 | (0.46) | 0.00 | (0.07) | 0.00 | 11.11 | 35.83 |
Merit Medical Corporate Management
| CPA Parra | CFO Treasurer | Profile | |
| Sarah Comstock | Vice Communications | Profile | |
| JoAnne Alkire | Executive Strategy | Profile | |
| Neil Peterson | Chief Officer | Profile | |
| Joseph Pierce | Chief Officer | Profile |