Merit Medical Correlations

MMSI Stock

USD 89.42 2.97 3.44%

The current 90-days correlation between Merit Medical Systems and Teleflex Incorporated is 0.29 (i.e., Modest 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 0.35 (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.

Build AI portfolio with Merit Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Merit Medical Systems. 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.

Moving together with Merit Stock

0.62	AMPH	Amphastar P	Pair Corr
0.72	MRLWF	Marlowe Plc	Pair Corr
0.67	FTV	Fortive Corp	Pair Corr
0.65	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.75	AXP	American Express	Pair Corr
0.67	TRV	The Travelers Companies	Pair Corr
0.71	BAC	Bank of America	Pair Corr

Moving against Merit Stock

0.62	HPQ	HP Inc	Pair Corr
0.58	OM	Outset Medical	Pair Corr
0.55	T	ATT Inc	Pair Corr
0.51	GOOD	Gladstone Commercial	Pair Corr
0.42	SLMNP	A Schulman	Pair Corr
0.37	KNTK	Kinetik Holdings Sell-off Trend	Pair Corr
0.37	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	TFX	BLCO	STVN	KRYS	TGTX	GKOS	ALKS	PTCT	TMDX	BRKR
TFX		0.1	0.31	-0.02	0.42	-0.1	-0.01	-0.49	-0.07	-0.24	TFX
BLCO	0.1		-0.62	0.87	-0.7	0.81	-0.57	0.66	0.42	0.8	BLCO
STVN	0.31	-0.62		-0.86	0.82	-0.87	0.74	-0.72	-0.14	-0.75	STVN
KRYS	-0.02	0.87	-0.86		-0.78	0.94	-0.77	0.75	0.34	0.87	KRYS
TGTX	0.42	-0.7	0.82	-0.78		-0.72	0.63	-0.75	-0.31	-0.8	TGTX
GKOS	-0.1	0.81	-0.87	0.94	-0.72		-0.77	0.78	0.39	0.87	GKOS
ALKS	-0.01	-0.57	0.74	-0.77	0.63	-0.77		-0.62	-0.4	-0.76	ALKS
PTCT	-0.49	0.66	-0.72	0.75	-0.75	0.78	-0.62		0.61	0.92	PTCT
TMDX	-0.07	0.42	-0.14	0.34	-0.31	0.39	-0.4	0.61		0.62	TMDX
BRKR	-0.24	0.8	-0.75	0.87	-0.8	0.87	-0.76	0.92	0.62		BRKR
	TFX	BLCO	STVN	KRYS	TGTX	GKOS	ALKS	PTCT	TMDX	BRKR

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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

GKOS	+ 0.94	KRYS
BRKR	+ 0.92	PTCT
KRYS	+ 0.87	BLCO
BRKR	+ 0.87	KRYS
BRKR	+ 0.87	GKOS
TGTX	+ 0.82	STVN

High negative correlations

GKOS	- 0.87	STVN
KRYS	- 0.86	STVN
BRKR	- 0.8	TGTX
TGTX	- 0.78	KRYS
ALKS	- 0.77	GKOS
ALKS	- 0.77	KRYS

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
TFX	1.73	(0.06)	(0.01)	0.03	2.66	(1.95)	3.98	(2.91)	17.32
BLCO	1.53	0.10	0.08	0.14	1.60	(1.70)	3.50	(2.93)	10.48
STVN	2.06	(0.43)	0.00	(0.18)	0.00	0.00	5.70	(4.31)	12.08
KRYS	1.48	0.40	0.25	0.45	1.18	(1.67)	3.66	(2.41)	7.77
TGTX	1.66	(0.38)	0.00	(0.23)	0.00	0.00	3.20	(3.46)	9.71
GKOS	2.06	0.42	0.17	0.49	2.11	(2.55)	5.29	(3.03)	16.93
ALKS	1.54	(0.20)	0.00	(0.12)	0.00	0.00	3.08	(3.38)	11.41
PTCT	1.50	0.27	0.12	0.36	1.81	(1.66)	3.88	(2.47)	13.88
TMDX	2.44	0.09	0.04	0.14	2.62	(2.87)	5.74	(5.04)	21.24
BRKR	2.10	0.52	0.26	0.45	1.62	(2.49)	6.18	(3.20)	11.96

Merit Medical Corporate Management

Clay Creamer	Executive Strategy	Profile
Alisha Jerauld	Social Environment	Profile
Gregory Fredde	Executive Development	Profile
CPA Parra	CFO Treasurer	Profile
Sarah Comstock	Vice Communications	Profile
JoAnne Alkire	Executive Strategy	Profile

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