GEHC vs MMSI: Correlation
Measured on weekly returns over the past three years, GE HealthCare (GEHC) and Merit Medical Systems, Inc. (MMSI) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GEHC and MMSI?
Over the past 3 years, GEHC and MMSI moved with a correlation of 0.49, which is moderate. The link has tightened recently: the 1-year correlation (0.63) runs above the 3-year figure (0.49). Over 5 years the correlation is 0.46, and the annualized covariance of weekly returns is 388.9 %².
By 3-year correlation, MMSI places #24 of the 52 assets tracked against GEHC. Neither side won the trailing year by much: -2.2% against -1.4%.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
GEHC vs MMSI: side by side
| GEHC (GE HealthCare) | MMSI (Merit Medical Systems, Inc.) | |
|---|---|---|
| 1-year return | -2.2% | -1.4% |
| 5-year return | n/a | +25.2% |
| Volatility (ann.) | 32.4% | 24.7% |
| Beta vs S&P 500 | 1.22 | 0.50 |
| Max drawdown (3Y) | -37.4% | -45.3% |
| Market cap | $32.7B | $5.3B |
| P/E (trailing) | 16.9 | 37.3 |
| Dividend yield | 0.19% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | GEHC | MMSI |
|---|---|---|
| 2022 | – | +13.4% |
| 2023 | +32.6% | +7.6% |
| 2024 | +1.3% | +27.3% |
| 2025 | +5.1% | -8.9% |
| 2026 | -11.5% | +1.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GEHC and MMSI good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GEHC and MMSI?
As of 2026-08-27, the correlation of weekly returns between GEHC and MMSI is 0.49 over 3 years, 0.63 over 1 year and 0.46 over 5 years.
Is MMSI a good diversifier for GEHC?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.49 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: GEHC correlations · MMSI correlations
