Which stocks are most correlated with MMSI?

Based on one year of daily returns, the stocks most correlated with Merit Medical Systems Inc (MMSI) are IHI (0.61), XHE (0.61) and MDEV (0.59). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.

Which stocks are inversely correlated with MMSI?

Over the past year, the stocks most inversely correlated with Merit Medical Systems Inc (MMSI) are RXD (-0.45), HDGE (-0.41) and EMTY (-0.39). A negative correlation means the two stocks have tended to move in opposite directions.

Merit Medical Systems Inc (MMSI) — Stock Correlations & Overview

Over the past year, MMSI has moved most closely with IHI, XHE, MDEV. Explore the stocks most correlated and inversely correlated with MMSI below, along with its price, financials, and company profile.

Stocks correlated with MMSI

Correlation of daily returns. Higher positive values move with MMSI; negative values move opposite it. Informational only, not investment advice.

Most correlated with MMSI

Symbol	Company	Correlation
IHI	iShares U.S. Medical Devices ETF	0.61
XHE	State Street SPDR S&P Health Care Equipment ETF	0.61
MDEV	First Trust Indxx Medical Devices ETF	0.59
RSPH	Invesco S&P 500 Equal Weight Health Care ETF	0.54
MVAL	VanEck Morningstar Wide Moat Value ETF	0.52

Most inversely correlated with MMSI

Symbol	Company	Correlation
RXD	ProShares UltraShort Health Care	-0.45
HDGE	AdvisorShares Ranger Equity Bear ETF	-0.41
EMTY	ProShares Decline of the Retail Store ETF	-0.39
DWSH	AdvisorShares Dorsey Wright Short ETF	-0.39
SRS	ProShares UltraShort Real Estate	-0.34

Frequently asked questions about MMSI correlations

Which stocks are most correlated with MMSI?: Based on one year of daily returns, the stocks most correlated with Merit Medical Systems Inc (MMSI) are IHI (0.61), XHE (0.61) and MDEV (0.59). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
Which stocks are inversely correlated with MMSI?: Over the past year, the stocks most inversely correlated with Merit Medical Systems Inc (MMSI) are RXD (-0.45), HDGE (-0.41) and EMTY (-0.39). A negative correlation means the two stocks have tended to move in opposite directions.
What does a correlation of 0.8 mean for a stock?: Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
How are these MMSI correlations calculated?: We compute the correlation of daily returns between MMSI and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.

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