Masimo Correlations

MASI Stock

USD 172.78 4.57 2.72%

The correlation of Masimo 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.

Masimo Correlation With Market

Weak diversification

The correlation between Masimo and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Masimo 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 Masimo. 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.

For more detail on how to invest in Masimo Stock please use our How to Invest in Masimo guide.

Moving together with Masimo Stock

0.65

ALC

Alcon AG

Pair Corr

Moving against Masimo Stock

0.44	EMBC	Embecta Corp	Pair Corr
0.4	VTAK	Catheter Precision	Pair Corr
0.39	WORX	Scworx Corp	Pair Corr
0.35	VVOS	Vivos Therapeutics	Pair Corr
0.32	DRIO	DarioHealth Corp	Pair Corr
0.47	FLGT	Fulgent Genetics	Pair Corr
0.46	DHR	Danaher	Pair Corr
0.45	AWH	Aspira Womens Health	Pair Corr
0.39	DXR	Daxor	Pair Corr
0.36	CNC	Centene Corp	Pair Corr

Related Correlations Analysis

	NUVA	GKOS	CNMD	LIVN	TNDM	DXCM	INSP	SWAV	PEN	PODD
NUVA		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	NUVA
GKOS	0.0		0.71	0.84	0.92	0.45	0.51	0.0	-0.27	0.6	GKOS
CNMD	0.0	0.71		0.79	0.76	0.0	0.53	0.0	-0.64	0.18	CNMD
LIVN	0.0	0.84	0.79		0.83	0.37	0.48	0.0	-0.3	0.61	LIVN
TNDM	0.0	0.92	0.76	0.83		0.39	0.56	0.0	-0.39	0.52	TNDM
DXCM	0.0	0.45	0.0	0.37	0.39		0.23	0.0	0.58	0.87	DXCM
INSP	0.0	0.51	0.53	0.48	0.56	0.23		0.0	-0.28	0.27	INSP
SWAV	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	SWAV
PEN	0.0	-0.27	-0.64	-0.3	-0.39	0.58	-0.28	0.0		0.41	PEN
PODD	0.0	0.6	0.18	0.61	0.52	0.87	0.27	0.0	0.41		PODD
	NUVA	GKOS	CNMD	LIVN	TNDM	DXCM	INSP	SWAV	PEN	PODD

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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

TNDM	+ 0.92	GKOS
PODD	+ 0.87	DXCM
LIVN	+ 0.84	GKOS
TNDM	+ 0.83	LIVN
LIVN	+ 0.79	CNMD
TNDM	+ 0.76	CNMD

High negative correlations

PEN	- 0.64	CNMD
PEN	- 0.39	TNDM
PEN	- 0.3	LIVN
PEN	- 0.28	INSP
PEN	- 0.27	GKOS
PODD	- 0.0	SWAV

Risk-Adjusted Indicators

There is a big difference between Masimo Stock performing well and Masimo 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 Masimo'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
NUVA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GKOS	2.37	(0.23)	0.00	(0.25)	0.00	0.00	4.97	(7.22)	24.99
CNMD	1.62	(0.20)	0.00	(0.39)	0.00	0.00	3.38	(3.53)	13.79
LIVN	1.59	(0.28)	0.00	(0.65)	0.00	0.00	2.87	(3.78)	20.10
TNDM	2.88	(0.42)	0.00	(0.53)	0.00	0.00	5.35	(6.14)	43.18
DXCM	1.75	0.00	0.00	(0.11)	0.00	0.00	3.27	(3.22)	15.07
INSP	2.23	(0.15)	0.00	(0.36)	0.00	0.00	5.02	(5.62)	18.61
SWAV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PEN	1.77	0.35	0.17	0.22	1.77	(2.11)	4.60	(3.49)	18.42
PODD	1.39	0.02	0.00	(0.08)	0.00	0.00	3.65	(3.03)	9.83

Masimo Corporate Executives

Elected by the shareholders, the Masimo's board of directors comprises two types of representatives: Masimo inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Masimo. The board's role is to monitor Masimo's management team and ensure that shareholders' interests are well served. Masimo's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Masimo's outside directors are responsible for providing unbiased perspectives on the board's policies.

Micah CPA

Executive CFO

Profile

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