ABBV vs ETN: Correlation
Measured on weekly returns over the past three years, AbbVie (ABBV) and Eaton Corporation (ETN) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABBV and ETN?
On 3 years of weekly data the ABBV/ETN correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.32 versus -0.20 over 3 years. The 5-year figure is -0.10, and annualized covariance runs at -156.8 %².
Within ABBV's tracked universe of 34 assets, ETN comes in at #23 by 3-year correlation. The trailing year gives ABBV the advantage: +27.9% versus +19.7%, a 8.2-point spread. Across three years, the rolling one-year figure varied moderately, from -0.39 to 0.04.
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.
ABBV vs ETN: side by side
| ABBV (AbbVie) | ETN (Eaton Corporation) | |
|---|---|---|
| 1-year return | +27.9% | +19.7% |
| 5-year return | +157.2% | +164.1% |
| Volatility (ann.) | 26.4% | 30.2% |
| Beta vs S&P 500 | 0.08 | 1.33 |
| Max drawdown (3Y) | -20.7% | -34.5% |
| Market cap | $456.2B | $161.6B |
| P/E (trailing) | 74.0 | 42.4 |
| Dividend yield | 2.60% | 1.02% |
| Sector / category | Health Care | Industrials |
Year-by-year returns
| Year | ABBV | ETN |
|---|---|---|
| 2022 | +24.0% | -7.2% |
| 2023 | -0.2% | +56.2% |
| 2024 | +18.9% | +39.5% |
| 2025 | +33.1% | -2.8% |
| 2026 | +15.7% | +31.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABBV and ETN good diversifiers for each other?
Yes. With a correlation of -0.20, ABBV and ETN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ABBV and ETN?
The ABBV/ETN correlation stands at -0.20 on a 3-year window (1 year: -0.32, 5 years: -0.10), computed from weekly returns as of 2026-08-27.
Is ETN a good diversifier for ABBV?
Yes. With a correlation of -0.20, ABBV and ETN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
A reading of -0.20 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/abbv-vs-etn.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/abbv-vs-etn/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ABBV correlations · ETN correlations
