Merit Medical Correlations
| MMSI Stock | USD 92.97 0.61 0.65% |
The current 90-days correlation between Merit Medical Systems and JIN MEDICAL INTERNATIONAL is 0.09 (i.e., Significant 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 poor diversification
The correlation between Merit Medical Systems and DJI is 0.85 (i.e., Very poor 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.
Moving together with Merit Stock
| 0.64 | BMRA | Biomerica | PairCorr |
| 0.68 | EWTX | Edgewise Therapeutics | PairCorr |
| 0.65 | BMY | Bristol Myers Squibb Aggressive Push | PairCorr |
| 0.63 | MRK | Merck Company Sell-off Trend | PairCorr |
| 0.72 | PFE | Pfizer Inc Aggressive Push | PairCorr |
| 0.68 | RAPT | RAPT Therapeutics | PairCorr |
| 0.7 | ABBV | AbbVie Inc | PairCorr |
| 0.61 | AMGN | Amgen Inc | PairCorr |
| 0.84 | BAC-PL | Bank of America | PairCorr |
Moving against Merit Stock
| 0.6 | PHIO | Phio Pharmaceuticals Corp | PairCorr |
| 0.59 | IVA | Inventiva Sa | PairCorr |
| 0.55 | NEM | Newmont Goldcorp Corp Aggressive Push | PairCorr |
| 0.54 | TNYYF | Tinybeans Group | PairCorr |
| 0.5 | HSPTU | Horizon Space Acquisition | PairCorr |
| 0.43 | VCICW | Vine Hill Capital | PairCorr |
| 0.35 | FE | FirstEnergy | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ZJYL | 5.36 | 0.07 | 0.00 | 0.23 | 7.93 | 14.61 | 43.88 | |||
| MHUA | 5.22 | 0.54 | 0.07 | 0.86 | 6.08 | 14.63 | 68.71 | |||
| GCTK | 5.96 | (1.50) | 0.00 | (0.78) | 0.00 | 7.69 | 40.82 | |||
| LUCY | 7.45 | 0.68 | 0.06 | 1.03 | 9.60 | 15.51 | 154.57 | |||
| NXGL | 3.11 | (0.39) | 0.00 | (0.32) | 0.00 | 5.75 | 24.69 | |||
| MBOT | 4.86 | 0.94 | 0.19 | 0.60 | 4.93 | 14.09 | 35.97 | |||
| POCI | 2.74 | 0.14 | 0.02 | 1.38 | 3.49 | 5.39 | 15.78 | |||
| KRMD | 3.63 | 0.25 | 0.04 | (0.64) | 4.20 | 8.04 | 27.19 | |||
| INFU | 2.51 | 0.18 | 0.04 | (0.67) | 2.97 | 5.63 | 21.88 | |||
| UTMD | 0.81 | (0.04) | 0.00 | (0.05) | 0.00 | 2.08 | 5.74 |
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 |