Merit Medical Correlations

MMSI Stock

USD 87.54 4.50 5.42%

The current 90-days correlation between Merit Medical Systems and Teleflex Incorporated is 0.65 (i.e., Poor 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

Very weak diversification

The correlation between Merit Medical Systems and DJI is 0.47 (i.e., Very 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 main economic indicators.

Moving together with Merit Stock

0.67	EW	Edwards Lifesciences Corp	Pair Corr
0.68	688606	Hangzhou Alltest Biotech	Pair Corr
0.64	DXCM	DexCom Inc	Pair Corr
0.61	002382	Blue Sail Medical	Pair Corr
0.63	POLX	Polarean Imaging Plc	Pair Corr
0.65	605186	Shanghai General Healthy	Pair Corr

Moving against Merit Stock

0.65	688656	HOB Biotech Group	Pair Corr
0.48	688677	Qingdao NovelBeam	Pair Corr
0.5	EKSO	Ekso Bionics Holdings	Pair Corr
0.58	AHC	Austco Healthcare	Pair Corr

Related Correlations Analysis

	TFX	BLCO	OPCH	GKOS	STVN	PTGX	SHC	ITGR	ACLX	KRYS
TFX		0.75	0.26	-0.13	0.3	0.32	0.74	-0.25	0.27	0.33	TFX
BLCO	0.75		0.03	-0.44	0.6	0.57	0.69	-0.38	0.52	0.52	BLCO
OPCH	0.26	0.03		0.3	-0.02	-0.53	-0.12	0.31	-0.62	-0.57	OPCH
GKOS	-0.13	-0.44	0.3		-0.67	-0.58	-0.14	0.49	-0.63	-0.6	GKOS
STVN	0.3	0.6	-0.02	-0.67		0.33	0.14	-0.34	0.45	0.37	STVN
PTGX	0.32	0.57	-0.53	-0.58	0.33		0.49	-0.57	0.89	0.9	PTGX
SHC	0.74	0.69	-0.12	-0.14	0.14	0.49		-0.27	0.4	0.46	SHC
ITGR	-0.25	-0.38	0.31	0.49	-0.34	-0.57	-0.27		-0.51	-0.5	ITGR
ACLX	0.27	0.52	-0.62	-0.63	0.45	0.89	0.4	-0.51		0.95	ACLX
KRYS	0.33	0.52	-0.57	-0.6	0.37	0.9	0.46	-0.5	0.95		KRYS
	TFX	BLCO	OPCH	GKOS	STVN	PTGX	SHC	ITGR	ACLX	KRYS

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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

KRYS	+ 0.95	ACLX
KRYS	+ 0.9	PTGX
ACLX	+ 0.89	PTGX
BLCO	+ 0.75	TFX
SHC	+ 0.74	TFX
SHC	+ 0.69	BLCO

High negative correlations

STVN	- 0.67	GKOS
ACLX	- 0.63	GKOS
ACLX	- 0.62	OPCH
KRYS	- 0.6	GKOS
PTGX	- 0.58	GKOS
ITGR	- 0.57	PTGX

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	1.56	(0.10)	(0.01)	0.05	1.90	(1.64)	3.43	(3.02)	8.96
BLCO	1.55	0.01	0.03	0.11	1.52	(1.87)	3.40	(2.29)	9.51
OPCH	1.36	(0.31)	0.00	(0.13)	0.00	0.00	2.40	(3.38)	11.81
GKOS	2.17	0.00	(0.01)	0.10	2.87	(2.25)	4.22	(4.58)	13.69
STVN	2.34	(0.05)	(0.01)	0.06	3.07	(2.57)	4.82	(5.58)	12.65
PTGX	2.51	0.84	0.17	(0.38)	2.55	(2.81)	4.93	(5.36)	38.77
SHC	1.80	0.42	0.35	0.35	1.00	(2.35)	3.40	(2.27)	27.51
ITGR	1.80	(0.78)	0.00	(0.73)	0.00	0.00	2.19	(3.13)	35.79
ACLX	1.67	0.26	0.14	0.36	1.54	(1.94)	4.66	(2.65)	10.65
KRYS	2.03	0.31	0.09	0.42	2.94	(2.20)	4.46	(2.75)	16.06

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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