ICUI vs MD: Correlation
ICU Medical, Inc. (ICUI) and Pediatrix Medical Group, Inc. (MD) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ICUI and MD?
Over the past 3 years, ICUI and MD moved with a correlation of 0.38, which is moderate. Little has changed lately, as the 1-year reading of 0.43 lands near the 3-year figure. Over 5 years the correlation is 0.32, and the annualized covariance of weekly returns is 688.8 %².
Within ICUI's tracked universe of 16 assets, MD comes in at #10 by 3-year correlation. The last year tells two different stories: MD led by 17.7 percentage points, +38.3% for ICUI against +56.0% for MD.
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 MD: side by side
| ICUI (ICU Medical, Inc.) | MD (Pediatrix Medical Group, Inc.) | |
|---|---|---|
| 1-year return | +38.3% | +56.0% |
| 5-year return | -12.5% | -23.8% |
| Volatility (ann.) | 39.5% | 46.2% |
| Beta vs S&P 500 | 0.84 | 0.33 |
| Max drawdown (3Y) | -45.1% | -52.8% |
| Market cap | $4.4B | $2.2B |
| P/E (trailing) | 150.9 | 12.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ICUI | MD |
|---|---|---|
| 2022 | -33.6% | -45.4% |
| 2023 | -36.7% | -37.4% |
| 2024 | +55.6% | +41.1% |
| 2025 | -8.1% | +63.0% |
| 2026 | +22.7% | +25.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICUI and MD good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ICUI and MD?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.43 over the last year and 0.32 over 5 years.
Is MD a good diversifier for ICUI?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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 · MD correlations
