GMED vs MTC: Correlation
Measured on weekly returns over the past three years, Globus Medical, Inc. (GMED) and MMTec, Inc. (MTC) carry a correlation of 0.35, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GMED and MTC?
Across a 3-year window, the weekly returns of GMED and MTC correlate at 0.35, moderate. The past 12 months show a tighter link (0.68) than the 3-year average (0.35). Stretching to 5 years gives 0.28, with an annualized covariance of 3771.2 %².
Within GMED's tracked universe of 15 assets, MTC comes in at #8 by 3-year correlation. The last year tells two different stories: MTC led by 267.9 percentage points, +34.2% for GMED against +302.1% for MTC. Note the risk asymmetry: MTC runs 6.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
GMED vs MTC: side by side
| GMED (Globus Medical, Inc.) | MTC (MMTec, Inc.) | |
|---|---|---|
| 1-year return | +34.2% | +302.1% |
| 5-year return | +0.4% | -96.8% |
| Volatility (ann.) | 41.6% | 261.2% |
| Beta vs S&P 500 | 0.74 | 0.26 |
| Max drawdown (3Y) | -44.4% | -99.6% |
| Market cap | $11.1B | $0.4B |
| P/E (trailing) | 21.1 | 5.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GMED | MTC |
|---|---|---|
| 2022 | +2.9% | -88.3% |
| 2023 | -28.2% | +29.0% |
| 2024 | +55.2% | -80.4% |
| 2025 | +5.6% | +117.8% |
| 2026 | -5.5% | +11.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GMED and MTC good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GMED and MTC?
The GMED/MTC correlation stands at 0.35 on a 3-year window (1 year: 0.68, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is MTC a good diversifier for GMED?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 mean?
A reading of 0.35 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/gmed-vs-mtc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gmed-vs-mtc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GMED correlations · MTC correlations
