GKOS vs MMSI: Correlation
Glaukos Corporation (GKOS) and Merit Medical Systems, Inc. (MMSI) show a moderate relationship: their 3-year correlation of weekly returns is 0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GKOS and MMSI?
On 3 years of weekly data the GKOS/MMSI correlation comes out at 0.37, moderate. Recent behaviour matches the longer record: 0.30 over 1 year against 0.37 over 3. The 5-year figure is 0.39, and annualized covariance runs at 418.8 %².
In GKOS's tracked universe of 12 assets, MMSI sits right near the top at #2. Correlation aside, the last 12 months split them widely, with GKOS ahead by 92.6 points (+91.2% versus -1.4%). Risk is not evenly split, since GKOS carries 1.9 times the volatility of the other side.
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.
GKOS vs MMSI: side by side
| GKOS (Glaukos Corporation) | MMSI (Merit Medical Systems, Inc.) | |
|---|---|---|
| 1-year return | +91.2% | -1.4% |
| 5-year return | +218.6% | +25.2% |
| Volatility (ann.) | 45.7% | 24.7% |
| Beta vs S&P 500 | 0.85 | 0.50 |
| Max drawdown (3Y) | -53.7% | -45.3% |
| Market cap | $10.7B | $5.3B |
| P/E (trailing) | – | 37.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GKOS | MMSI |
|---|---|---|
| 2022 | -1.7% | +13.4% |
| 2023 | +82.0% | +7.6% |
| 2024 | +88.6% | +27.3% |
| 2025 | -24.7% | -8.9% |
| 2026 | +61.1% | +1.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GKOS and MMSI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GKOS and MMSI?
As of 2026-08-27, the correlation of weekly returns between GKOS and MMSI is 0.37 over 3 years, 0.30 over 1 year and 0.39 over 5 years.
Is MMSI a good diversifier for GKOS?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.37 mean?
A reading of 0.37 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gkos-vs-mmsi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gkos-vs-mmsi/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GKOS correlations · MMSI correlations
