Merit Medical Correlations

MMSI Stock

USD 83.18 2.61 3.04%

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 0.45 (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 against Merit Stock

0.73	PLG	Platinum Group Metals	Pair Corr
0.69	UEC	Uranium Energy Corp	Pair Corr
0.6	ILLR	Triller Group	Pair Corr
0.56	CYCC	CYCC Old Symbol Change	Pair Corr
0.55	PATH	Uipath Inc	Pair Corr
0.39	GS	Goldman Sachs Group	Pair Corr
0.58	MSFT	Microsoft	Pair Corr
0.5	GE	GE Aerospace	Pair Corr
0.36	IBM	International Business	Pair Corr
0.35	AA	Alcoa Corp	Pair Corr
0.35	JNJ	Johnson Johnson	Pair Corr

Related Correlations Analysis

	SLHGF	RVRC	LBHIX	MSTSX	VIASP	RRTLX	OSHDF	70082LAB3	SITKF	RWAYL
SLHGF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	SLHGF
RVRC	0.0		0.0	0.0	0.0	0.0	-1.0	0.0	0.0	0.0	RVRC
LBHIX	0.0	0.0		0.84	0.63	0.92	0.0	0.73	0.78	0.57	LBHIX
MSTSX	0.0	0.0	0.84		0.52	0.92	0.0	0.76	0.67	0.41	MSTSX
VIASP	0.0	0.0	0.63	0.52		0.62	0.0	0.58	0.54	0.61	VIASP
RRTLX	0.0	0.0	0.92	0.92	0.62		0.0	0.75	0.79	0.56	RRTLX
OSHDF	0.0	-1.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	OSHDF
70082LAB3	0.0	0.0	0.73	0.76	0.58	0.75	0.0		0.76	0.17	70082LAB3
SITKF	0.0	0.0	0.78	0.67	0.54	0.79	0.0	0.76		0.44	SITKF
RWAYL	0.0	0.0	0.57	0.41	0.61	0.56	0.0	0.17	0.44		RWAYL
	SLHGF	RVRC	LBHIX	MSTSX	VIASP	RRTLX	OSHDF	70082LAB3	SITKF	RWAYL

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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

RRTLX	+ 0.92	LBHIX
RRTLX	+ 0.92	MSTSX
MSTSX	+ 0.84	LBHIX
SITKF	+ 0.79	RRTLX
SITKF	+ 0.78	LBHIX
70082LAB3	+ 0.76	MSTSX

High negative correlations

OSHDF	- 1.0	RVRC
RWAYL	- 0.0	OSHDF
SITKF	- 0.0	OSHDF
70082LAB3	- 0.0	OSHDF
OSHDF	- 0.0	RRTLX
OSHDF	- 0.0	VIASP

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
SLHGF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RVRC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LBHIX	0.15	0.01	(0.12)	2.53	0.04	(0.29)	0.24	(0.23)	1.17
MSTSX	0.46	0.03	(0.03)	(0.52)	0.66	(0.47)	0.91	(1.05)	3.97
VIASP	0.42	0.02	(0.03)	0.38	0.60	(0.40)	1.03	(0.96)	3.04
RRTLX	0.20	0.02	(0.07)	6.52	0.21	(0.22)	0.46	(0.31)	1.85
OSHDF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
70082LAB3	1.63	0.01	0.00	0.08	3.97	(1.46)	2.71	(3.98)	21.76
SITKF	3.77	0.64	0.14	(10.53)	3.63	(4.93)	8.22	(7.41)	28.16
RWAYL	0.13	0.02	(0.15)	(0.96)	0.03	(0.15)	0.41	(0.28)	0.93

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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