GMED vs TCMD: Correlation
How closely do Globus Medical, Inc. (GMED) and Tactile Systems Technology, Inc. (TCMD) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GMED and TCMD?
Across a 3-year window, the weekly returns of GMED and TCMD correlate at 0.58, moderate. The link has tightened recently: the 1-year correlation (0.72) runs above the 3-year figure (0.58). Stretching to 5 years gives 0.56, with an annualized covariance of 1548.8 %².
TCMD is one of the assets that tracks GMED most closely: it ranks #2 out of the 15 assets we track against GMED. Their recent paths diverged sharply: over the last 12 months TCMD outperformed by 41.5 percentage points (+34.2% for GMED against +75.7% for TCMD). Note the risk asymmetry: TCMD runs 1.5 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 TCMD: side by side
| GMED (Globus Medical, Inc.) | TCMD (Tactile Systems Technology, Inc.) | |
|---|---|---|
| 1-year return | +34.2% | +75.7% |
| 5-year return | +0.4% | -47.2% |
| Volatility (ann.) | 41.6% | 63.6% |
| Beta vs S&P 500 | 0.74 | 0.87 |
| Max drawdown (3Y) | -44.4% | -51.8% |
| Market cap | $11.1B | $0.5B |
| P/E (trailing) | 21.1 | 22.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GMED | TCMD |
|---|---|---|
| 2022 | +2.9% | -39.7% |
| 2023 | -28.2% | +24.6% |
| 2024 | +55.2% | +19.8% |
| 2025 | +5.6% | +69.3% |
| 2026 | -5.5% | -20.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GMED and TCMD good diversifiers for each other?
To a limited degree. At 0.58 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between GMED and TCMD?
Using weekly returns as of 2026-08-27: 0.58 over 3 years, with 0.72 over the last year and 0.56 over 5 years.
Is TCMD a good diversifier for GMED?
To a limited degree. At 0.58 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.58 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gmed-vs-tcmd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gmed-vs-tcmd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GMED correlations · TCMD correlations
