GMED vs SGI: Correlation
Measured on weekly returns over the past three years, Globus Medical, Inc. (GMED) and Somnigroup International Inc. (SGI) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GMED and SGI?
Over the past 3 years, GMED and SGI moved with a correlation of 0.51, which is moderate. The relationship has been stable: the 1-year correlation (0.58) sits close to the 3-year figure. Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 711.9 %².
Within GMED's tracked universe of 15 assets, SGI comes in at #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months GMED outperformed by 59.6 percentage points (+34.2% for GMED against -25.4% for SGI).
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 SGI: side by side
| GMED (Globus Medical, Inc.) | SGI (Somnigroup International Inc.) | |
|---|---|---|
| 1-year return | +34.2% | -25.4% |
| 5-year return | +0.4% | +44.9% |
| Volatility (ann.) | 41.6% | 33.8% |
| Beta vs S&P 500 | 0.74 | 1.02 |
| Max drawdown (3Y) | -44.4% | -37.1% |
| Market cap | $11.1B | $13.1B |
| P/E (trailing) | 21.1 | 24.8 |
| Dividend yield | 0.00% | 1.02% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GMED | SGI |
|---|---|---|
| 2022 | +2.9% | -26.0% |
| 2023 | -28.2% | +50.1% |
| 2024 | +55.2% | +12.3% |
| 2025 | +5.6% | +58.8% |
| 2026 | -5.5% | -29.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GMED and SGI good diversifiers for each other?
Only partially. A correlation of 0.51 means GMED and SGI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between GMED and SGI?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.58 over the last year and 0.48 over 5 years.
Is SGI a good diversifier for GMED?
Only partially. A correlation of 0.51 means GMED and SGI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: GMED correlations · SGI correlations
