Hand-held apparatus and method for determining relative and/or absolute axial position of a conduit end within a fluid coupling includes application of input ultrasonic energy in the form of transient shear waves and analyzing the reflected energy. Application of the input energy collected at different radial positions about a first axial location is used with wavelet based correlation techniques to better analyze the reflected energy signals. Quality of the abutment between the conduit end and a surface associated with the coupling may also be determined as a separate or combined feature of the axial position determination.