ABT vs MDT: Correlation
Abbott Laboratories (ABT) and Medtronic (MDT) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABT and MDT?
On 3 years of weekly data the ABT/MDT correlation comes out at 0.50, moderate. The relationship has been stable: the 1-year correlation (0.47) sits close to the 3-year figure. The 5-year figure is 0.48, and annualized covariance runs at 232.0 %².
MDT is one of the assets that tracks ABT most closely: it ranks #1 out of the 29 assets we track against ABT. On 12-month performance MDT holds a 14.1-point edge, -13.2% against +0.9%. This link changes with the market regime, having swung between 0.19 and 0.76 on a rolling one-year basis.
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.
ABT vs MDT: side by side
| ABT (Abbott Laboratories) | MDT (Medtronic) | |
|---|---|---|
| 1-year return | -13.2% | +0.9% |
| 5-year return | -2.3% | -21.4% |
| Volatility (ann.) | 22.0% | 21.0% |
| Beta vs S&P 500 | 0.16 | 0.37 |
| Max drawdown (3Y) | -39.6% | -28.9% |
| Market cap | $193.1B | $115.2B |
| P/E (trailing) | 37.0 | 24.1 |
| Dividend yield | 2.17% | 3.09% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | ABT | MDT |
|---|---|---|
| 2022 | -20.7% | -22.6% |
| 2023 | +2.3% | +9.6% |
| 2024 | +4.8% | +0.3% |
| 2025 | +12.9% | +24.0% |
| 2026 | -9.3% | -4.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABT and MDT good diversifiers for each other?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ABT and MDT?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.47 over the last year and 0.48 over 5 years.
Is MDT a good diversifier for ABT?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.50 mean?
On the −1 to +1 scale, 0.50 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/abt-vs-mdt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/abt-vs-mdt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ABT correlations · MDT correlations
