ICUI vs INSP: Correlation
How closely do ICU Medical, Inc. (ICUI) and Inspire Medical Systems, Inc. (INSP) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ICUI and INSP?
Across a 3-year window, the weekly returns of ICUI and INSP correlate at 0.39, moderate. The relationship has been stable: the 1-year correlation (0.34) sits close to the 3-year figure. Stretching to 5 years gives 0.40, with an annualized covariance of 1028.7 %².
By 3-year correlation, INSP places #9 of the 16 assets tracked against ICUI. Their recent paths diverged sharply: over the last 12 months ICUI outperformed by 72.4 percentage points (+38.3% for ICUI against -34.1% for INSP). Note the risk asymmetry: INSP runs 1.7 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.
ICUI vs INSP: side by side
| ICUI (ICU Medical, Inc.) | INSP (Inspire Medical Systems, Inc.) | |
|---|---|---|
| 1-year return | +38.3% | -34.1% |
| 5-year return | -12.5% | -72.6% |
| Volatility (ann.) | 39.5% | 67.2% |
| Beta vs S&P 500 | 0.84 | 0.77 |
| Max drawdown (3Y) | -45.1% | -84.1% |
| Market cap | $4.4B | $1.8B |
| P/E (trailing) | 150.9 | 13.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ICUI | INSP |
|---|---|---|
| 2022 | -33.6% | +9.5% |
| 2023 | -36.7% | -19.2% |
| 2024 | +55.6% | -8.9% |
| 2025 | -8.1% | -50.2% |
| 2026 | +22.7% | -34.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICUI and INSP good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ICUI and INSP?
As of 2026-08-27, the correlation of weekly returns between ICUI and INSP is 0.39 over 3 years, 0.34 over 1 year and 0.40 over 5 years.
Is INSP a good diversifier for ICUI?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 mean?
On the −1 to +1 scale, 0.39 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: ICUI correlations · INSP correlations
