OM vs TMCI: Correlation
How closely do Outset Medical, Inc. (OM) and Treace Medical Concepts, Inc. (TMCI) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OM and TMCI?
On 3 years of weekly data the OM/TMCI correlation comes out at 0.41, moderate. The link has tightened recently: the 1-year correlation (0.57) runs above the 3-year figure (0.41). The 5-year figure is 0.40, and annualized covariance runs at 4281.9 %².
Within OM's tracked universe of 10 assets, TMCI comes in at #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TMCI ahead by 32.7 points (-70.7% versus -38.0%).
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.
OM vs TMCI: side by side
| OM (Outset Medical, Inc.) | TMCI (Treace Medical Concepts, Inc.) | |
|---|---|---|
| 1-year return | -70.7% | -38.0% |
| 5-year return | -99.4% | -81.5% |
| Volatility (ann.) | 112.6% | 92.1% |
| Beta vs S&P 500 | 1.98 | 2.37 |
| Max drawdown (3Y) | -98.5% | -92.6% |
| Market cap | $0.1B | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OM | TMCI |
|---|---|---|
| 2022 | -44.0% | +23.3% |
| 2023 | -79.0% | -44.5% |
| 2024 | -79.5% | -41.6% |
| 2025 | -77.7% | -67.1% |
| 2026 | +10.2% | +87.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OM and TMCI good diversifiers for each other?
Reasonably. At 0.41, OM and TMCI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between OM and TMCI?
The OM/TMCI correlation stands at 0.41 on a 3-year window (1 year: 0.57, 5 years: 0.40), computed from weekly returns as of 2026-08-27.
Is TMCI a good diversifier for OM?
Reasonably. At 0.41, OM and TMCI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 mean?
A reading of 0.41 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/om-vs-tmci.json
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Related comparisons
Hubs: OM correlations · TMCI correlations
