KWR vs MMSI: Correlation
How closely do Quaker Houghton (KWR) and Merit Medical Systems, Inc. (MMSI) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KWR and MMSI?
Across a 3-year window, the weekly returns of KWR and MMSI correlate at 0.48, moderate. The relationship has been stable: the 1-year correlation (0.52) sits close to the 3-year figure. Stretching to 5 years gives 0.45, with an annualized covariance of 404.9 %².
By 3-year correlation, MMSI places #13 of the 20 assets tracked against KWR. Their recent paths diverged sharply: over the last 12 months KWR outperformed by 16.5 percentage points (+15.1% for KWR against -1.4% for MMSI).
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.
KWR vs MMSI: side by side
| KWR (Quaker Houghton) | MMSI (Merit Medical Systems, Inc.) | |
|---|---|---|
| 1-year return | +15.1% | -1.4% |
| 5-year return | -32.5% | +25.2% |
| Volatility (ann.) | 34.3% | 24.7% |
| Beta vs S&P 500 | 1.16 | 0.50 |
| Max drawdown (3Y) | -55.3% | -45.3% |
| Market cap | $2.8B | $5.3B |
| P/E (trailing) | 29.4 | 37.3 |
| Dividend yield | 1.24% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KWR | MMSI |
|---|---|---|
| 2022 | -26.9% | +13.4% |
| 2023 | +29.1% | +7.6% |
| 2024 | -33.4% | +27.3% |
| 2025 | -0.8% | -8.9% |
| 2026 | +20.9% | +1.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KWR and MMSI good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between KWR and MMSI?
As of 2026-08-27, the correlation of weekly returns between KWR and MMSI is 0.48 over 3 years, 0.52 over 1 year and 0.45 over 5 years.
Is MMSI a good diversifier for KWR?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 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.
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Related comparisons
Hubs: KWR correlations · MMSI correlations
