MMS vs. MASI

Last updated Jun 4, 2026

MMS (Maximus, Inc.) and MASI (Masimo Corporation) are both stocks. MMS operates in Specialty Business Services (Industrials), while MASI operates in Medical Instruments & Supplies (Healthcare). Over the past 10 years, MMS returned 1.95%/yr vs 13.60%/yr for MASI. At a 0.34 correlation, their price movements are largely independent.

Performance

MMS vs. MASI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Maximus, Inc. (MMS) and Masimo Corporation (MASI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MMS achieves a -29.63% return, which is significantly lower than MASI's 37.46% return. Over the past 10 years, MMS has underperformed MASI with an annualized return of 1.95%, while MASI has yielded a comparatively higher 13.60% annualized return.

MMS

• 1D: -1.28%
• 1M: -6.30%
• YTD: -29.63%
• 6M: -28.42%
• 1Y: -14.72%
• 3Y*: -8.84%
• 5Y*: -6.46%
• 10Y*: 1.95%

MASI

• 1D: 0.03%
• 1M: 0.32%
• YTD: 37.46%
• 6M: 29.47%
• 1Y: 9.13%
• 3Y*: 3.06%
• 5Y*: -3.28%
• 10Y*: 13.60%

*Multi-year figures are annualized to reflect compound growth (CAGR)

MMS vs. MASI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MMS Maximus, Inc.	-29.63%	17.47%	-9.70%	16.01%	-6.39%	10.31%	-0.07%	15.90%	-8.53%	28.68%
MASI Masimo Corporation	37.46%	-21.32%	41.03%	-20.78%	-49.47%	9.09%	69.80%	47.21%	26.62%	25.82%

Correlation

The correlation between MMS and MASI is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (10Y) Calculated over the trailing 10-year period	0.29
Correlation (All Time) Calculated using the full available price history since Aug 9, 2007	0.34

The correlation between MMS and MASI shifts across timeframes, from 0.19 (3 years) to 0.34 (all time), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap MMS : $3.30B MASI : $9.40B
EPS MMS : $6.66 MASI : $1.41
PE Ratio MMS : 9.03 MASI : 126.53
PS Ratio MMS : 0.63 MASI : 6.19
PB Ratio MMS : 1.95 MASI : 11.92
Total Revenue (TTM) MMS : $5.32B MASI : $1.56B
Gross Profit (TTM) MMS : $1.31B MASI : $962.00M
EBITDA (TTM) MMS : $654.04M MASI : $336.40M

Return for Risk

MMS vs. MASI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MMS

MMS Risk / Return Rank: 23
MMS Sharpe Ratio Rank: 21
MMS Sortino Ratio Rank: 21
MMS Omega Ratio Rank: 20
MMS Calmar Ratio Rank: 28
MMS Martin Ratio Rank: 25

MASI

MASI Risk / Return Rank: 49
MASI Sharpe Ratio Rank: 48
MASI Sortino Ratio Rank: 50
MASI Omega Ratio Rank: 50
MASI Calmar Ratio Rank: 49
MASI Martin Ratio Rank: 48

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MMS vs. MASI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Maximus, Inc. (MMS) and Masimo Corporation (MASI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	MMS	MASI	Difference
Sharpe ratio Return per unit of total volatility	-0.47	0.21	-0.67
Sortino ratio Return per unit of downside risk	-0.44	0.84	-1.28
Omega ratio Gain probability vs. loss probability	0.94	1.11	-0.18
Calmar ratio Return relative to maximum drawdown	-0.37	0.35	-0.73
Martin ratio Return relative to average drawdown	-0.81	0.71	-1.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MMS vs. MASI - Sharpe Ratio Comparison

The current MMS Sharpe Ratio is -0.47, which is lower than the MASI Sharpe Ratio of 0.21. The chart below compares the historical Sharpe Ratios of MMS and MASI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MMS	MASI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.47	0.21	-0.67
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.23	-0.07	-0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.07	0.36	-0.29
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.35	-0.04

Drawdowns

MMS vs. MASI - Drawdown Comparison

The maximum MMS drawdown since its inception was -61.45%, smaller than the maximum MASI drawdown of -74.70%. Use the drawdown chart below to compare losses from any high point for MMS and MASI.

Drawdown Indicators

	MMS	MASI	Difference
Max Drawdown Largest peak-to-trough decline	-61.45%	-74.70%	+13.25%
Max Drawdown (1Y) Largest decline over 1 year	-39.65%	-25.92%	-13.73%
Max Drawdown (3Y) Largest decline over 3 years	-39.65%	-53.83%	+14.18%
Max Drawdown (5Y) Largest decline over 5 years	-39.75%	-74.70%	+34.95%
Max Drawdown (10Y) Largest decline over 10 years	-40.40%	-74.70%	+34.30%
Current Drawdown Current decline from peak	-38.60%	-41.05%	+2.45%
Average Drawdown Average peak-to-trough decline	-16.88%	-27.22%	+10.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.29%	12.96%	+5.33%

Volatility

MMS vs. MASI - Volatility Comparison

Maximus, Inc. (MMS) has a higher volatility of 9.34% compared to Masimo Corporation (MASI) at 0.44%. This indicates that MMS's price experiences larger fluctuations and is considered to be riskier than MASI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MMS	MASI	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.34%	0.44%	+8.90%
Volatility (6M) Calculated over the trailing 6-month period	27.41%	32.88%	-5.47%
Volatility (1Y) Calculated over the trailing 1-year period	31.66%	44.52%	-12.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.72%	44.79%	-17.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.59%	37.74%	-10.15%

Dividends

MMS vs. MASI - Dividend Comparison

MMS's dividend yield for the trailing twelve months is around 2.10%, while MASI has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MASI Masimo Corporation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MMS Maximus, Inc.	2.10%	1.39%	1.61%	1.36%	1.53%	1.41%	1.53%	1.38%	0.59%	0.25%	0.32%	0.32%

Financials

MMS vs. MASI - Profitability Comparison

The chart below illustrates the profitability comparison between Maximus, Inc. and Masimo Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

MMS - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Maximus, Inc. reported a gross profit of 362.56M and revenue of 1.31B. Therefore, the gross margin over that period was 27.8%.

MASI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Masimo Corporation reported a gross profit of 250.80M and revenue of 403.60M. Therefore, the gross margin over that period was 62.1%.

MMS - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Maximus, Inc. reported an operating income of 148.49M and revenue of 1.31B, resulting in an operating margin of 11.4%.

MASI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Masimo Corporation reported an operating income of 77.40M and revenue of 403.60M, resulting in an operating margin of 19.2%.

MMS - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Maximus, Inc. reported a net income of 98.06M and revenue of 1.31B, resulting in a net margin of 7.5%.

MASI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Masimo Corporation reported a net income of 57.10M and revenue of 403.60M, resulting in a net margin of 14.2%.

Frequently Asked Questions

Can I hold both MMS and MASI in my portfolio?

MMS and MASI have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MMS or MASI?

MMS has higher volatility (9.34%) compared to MASI (0.44%). In terms of maximum drawdown, MMS dropped -61.45% vs MASI's -74.70%.

Which has better risk-adjusted returns?

MASI currently has the higher Sharpe Ratio (0.21 vs -0.47), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.