Merit Medical Correlations

MMSI Stock  USD 105.45  0.26  0.25%   
The current 90-days correlation between Merit Medical Systems and Teleflex Incorporated is 0.13 (i.e., Average 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

  0.73MLSS Milestone ScientificPairCorr
  0.72PLX Protalix BiotherapeuticsPairCorr

Moving against Merit Stock

  0.52VINC Vincerx PharmaPairCorr
  0.64INBX Inhibrx Symbol ChangePairCorr
  0.37ZURA Zura Bio LimitedPairCorr
  0.35ADVM Adverum BiotechnologiesPairCorr
  0.32AVTE Aerovate TherapeuticsPairCorr

Related Correlations Analysis

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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   
XRAYTFX
ICUITFX
XRAYICUI
XRAYCOO
XRAYNVST
NVSTCOO
  
High negative correlations   
ALCHAE
ALCWST
ALCTFX
ALCXRAY
ALCICUI
ALCATR

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
TFX  1.45 (0.31) 0.00 (0.65) 0.00 
 2.59 
 24.93 
COO  1.36 (0.08) 0.00 (0.15) 0.00 
 2.23 
 9.15 
WST  2.05 (0.43) 0.00  4.54  0.00 
 3.56 
 40.71 
ICUI  1.72 (0.08) 0.00 (0.11) 0.00 
 3.10 
 11.84 
ANGO  2.87  0.13  0.09 (0.13) 2.95 
 5.00 
 46.09 
ATR  0.92 (0.05) 0.00 (0.12) 0.00 
 1.71 
 10.88 
HAE  1.73 (0.24) 0.00 (0.41) 0.00 
 3.37 
 15.77 
NVST  1.96 (0.01) 0.00 (0.06) 0.00 
 3.37 
 11.81 
XRAY  1.54 (0.26) 0.00 (0.27) 0.00 
 3.01 
 12.31 
ALC  1.19  0.21  0.16  0.18  1.21 
 2.48 
 8.26 

Merit Medical Corporate Management

Alisha JerauldSocial EnvironmentProfile
CPA ParraCFO TreasurerProfile
Sarah ComstockVice CommunicationsProfile
JoAnne AlkireExecutive StrategyProfile
Mark ButlerExecutive EMEAProfile