Merit Medical Correlations

MMSI Stock

USD 107.04 1.59 1.51%

The current 90-days correlation between Merit Medical Systems and Teleflex Incorporated is -0.32 (i.e., Very good 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 0.58 (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.

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 state.

Moving together with Merit Stock

0.79

Guardant Health

Pair Corr

Moving against Merit Stock

0.69	ESTA	Establishment Labs	Pair Corr
0.44	DRIO	DarioHealth Corp	Pair Corr
0.37	VTAK	Catheter Precision	Pair Corr
0.59	FLGT	Fulgent Genetics	Pair Corr
0.37	AWH	Aspira Womens Health	Pair Corr

Related Correlations Analysis

	TFX	COO	WST	ICUI	ANGO	ATR	HAE	NVST	XRAY	ALC
TFX		0.75	0.74	0.87	0.56	0.55	0.5	0.76	0.95	-0.55	TFX
COO	0.75		0.73	0.68	0.53	0.57	0.33	0.79	0.83	-0.15	COO
WST	0.74	0.73		0.68	0.56	0.71	0.63	0.43	0.71	-0.55	WST
ICUI	0.87	0.68	0.68		0.72	0.52	0.38	0.77	0.88	-0.5	ICUI
ANGO	0.56	0.53	0.56	0.72		0.41	0.18	0.53	0.57	-0.26	ANGO
ATR	0.55	0.57	0.71	0.52	0.41		0.75	0.24	0.56	-0.4	ATR
HAE	0.5	0.33	0.63	0.38	0.18	0.75		0.01	0.42	-0.77	HAE
NVST	0.76	0.79	0.43	0.77	0.53	0.24	0.01		0.86	-0.1	NVST
XRAY	0.95	0.83	0.71	0.88	0.57	0.56	0.42	0.86		-0.44	XRAY
ALC	-0.55	-0.15	-0.55	-0.5	-0.26	-0.4	-0.77	-0.1	-0.44		ALC
	TFX	COO	WST	ICUI	ANGO	ATR	HAE	NVST	XRAY	ALC

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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

XRAY	+ 0.95	TFX
XRAY	+ 0.88	ICUI
ICUI	+ 0.87	TFX
XRAY	+ 0.86	NVST
XRAY	+ 0.83	COO
NVST	+ 0.79	COO

High negative correlations

ALC	- 0.77	HAE
ALC	- 0.55	WST
ALC	- 0.55	TFX
ALC	- 0.5	ICUI
ALC	- 0.44	XRAY
ALC	- 0.4	ATR

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	1.45	(0.38)	0.00	0.51	0.00	0.00	2.59	(2.85)	24.93
COO	1.36	(0.12)	0.00	(0.52)	0.00	0.00	2.23	(2.42)	9.15
WST	2.05	(0.41)	0.00	(1.18)	0.00	0.00	3.56	(2.83)	40.71
ICUI	1.70	(0.11)	0.00	(0.14)	0.00	0.00	3.10	(3.61)	11.84
ANGO	2.90	0.34	0.11	0.27	2.93	(3.59)	5.00	(4.95)	46.09
ATR	0.92	(0.05)	0.00	(0.12)	0.00	0.00	1.71	(1.66)	10.88
HAE	1.73	(0.25)	0.00	(0.44)	0.00	0.00	3.37	(4.20)	15.77
NVST	1.96	(0.04)	0.00	(0.07)	0.00	0.00	3.37	(4.20)	11.81
XRAY	1.57	(0.28)	0.00	(0.29)	0.00	0.00	3.01	(3.55)	12.31
ALC	1.19	0.14	0.16	(0.34)	1.21	(1.33)	2.48	(2.22)	8.26

Merit Medical Corporate Management

Alisha Jerauld	Social Environment	Profile
CPA Parra	CFO Treasurer	Profile
Sarah Comstock	Vice Communications	Profile
JoAnne Alkire	Executive Strategy	Profile
Mark Butler	Executive EMEA	Profile

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