MMSI vs SHW: Correlation
How closely do Merit Medical Systems, Inc. (MMSI) and Sherwin-Williams (SHW) trade together? Their weekly returns over three years give a correlation of 0.45, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MMSI and SHW?
On 3 years of weekly data the MMSI/SHW correlation comes out at 0.45, moderate. The past 12 months show a tighter link (0.62) than the 3-year average (0.45). The 5-year figure is 0.41, and annualized covariance runs at 272.6 %².
Among the 14 assets we track against MMSI, SHW ranks #5 by 3-year correlation. Neither side won the trailing year by much: -1.4% against -5.1%.
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.
MMSI vs SHW: side by side
| MMSI (Merit Medical Systems, Inc.) | SHW (Sherwin-Williams) | |
|---|---|---|
| 1-year return | -1.4% | -5.1% |
| 5-year return | +25.2% | +18.3% |
| Volatility (ann.) | 24.7% | 24.6% |
| Beta vs S&P 500 | 0.50 | 0.79 |
| Max drawdown (3Y) | -45.3% | -25.7% |
| Market cap | $5.3B | $83.8B |
| P/E (trailing) | 37.3 | 31.8 |
| Dividend yield | 0.00% | 0.91% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | MMSI | SHW |
|---|---|---|
| 2022 | +13.4% | -32.0% |
| 2023 | +7.6% | +32.7% |
| 2024 | +27.3% | +9.9% |
| 2025 | -8.9% | -3.8% |
| 2026 | +1.6% | +7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MMSI and SHW good diversifiers for each other?
Reasonably. At 0.45, MMSI and SHW keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MMSI and SHW?
As of 2026-08-27, the correlation of weekly returns between MMSI and SHW is 0.45 over 3 years, 0.62 over 1 year and 0.41 over 5 years.
Is SHW a good diversifier for MMSI?
Reasonably. At 0.45, MMSI and SHW keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 mean?
A reading of 0.45 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mmsi-vs-shw.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mmsi-vs-shw/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MMSI correlations · SHW correlations
