AON vs BMY: Correlation
Measured on weekly returns over the past three years, Aon plc (AON) and Bristol Myers Squibb (BMY) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AON and BMY?
On 3 years of weekly data the AON/BMY correlation comes out at 0.39, moderate. The relationship has been stable: the 1-year correlation (0.35) sits close to the 3-year figure. The 5-year figure is 0.36, and annualized covariance runs at 237.6 %².
By 3-year correlation, BMY places #18 of the 32 assets tracked against AON. The last year tells two different stories: BMY led by 51.9 percentage points, -4.6% for AON against +47.3% for BMY. The rolling one-year correlation stayed in a tight band between 0.31 and 0.55 over the past three years, which points to a structural rather than episodic relationship.
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.
AON vs BMY: side by side
| AON (Aon plc) | BMY (Bristol Myers Squibb) | |
|---|---|---|
| 1-year return | -4.6% | +47.3% |
| 5-year return | +27.0% | +22.3% |
| Volatility (ann.) | 21.7% | 27.8% |
| Beta vs S&P 500 | 0.34 | 0.20 |
| Max drawdown (3Y) | -24.2% | -34.1% |
| Market cap | $74.2B | $136.8B |
| P/E (trailing) | 19.5 | 14.9 |
| Dividend yield | 0.86% | 3.71% |
| Sector / category | Financials | Health Care |
Year-by-year returns
| Year | AON | BMY |
|---|---|---|
| 2022 | +0.6% | +19.0% |
| 2023 | -2.3% | -26.1% |
| 2024 | +24.5% | +15.8% |
| 2025 | -1.2% | +0.1% |
| 2026 | -0.5% | +28.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AON and BMY good diversifiers for each other?
Reasonably. At 0.39, AON and BMY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AON and BMY?
The AON/BMY correlation stands at 0.39 on a 3-year window (1 year: 0.35, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is BMY a good diversifier for AON?
Reasonably. At 0.39, AON and BMY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 mean?
A reading of 0.39 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/aon-vs-bmy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aon-vs-bmy/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AON correlations · BMY correlations
