ASG vs BSX: Correlation
How closely do Liberty All-Star Growth Fund, Inc. (ASG) and Boston Scientific (BSX) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASG and BSX?
Over the past 3 years, ASG and BSX moved with a correlation of 0.44, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.25 versus 0.44 over 3 years. Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 220.7 %².
Among the 52 assets we track against ASG, BSX ranks #45 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ASG outperformed by 59.2 percentage points (+3.3% for ASG against -55.9% for BSX). Note the risk asymmetry: BSX runs 1.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ASG vs BSX: side by side
| ASG (Liberty All-Star Growth Fund, Inc.) | BSX (Boston Scientific) | |
|---|---|---|
| 1-year return | +3.3% | -55.9% |
| 5-year return | -5.6% | +4.1% |
| Volatility (ann.) | 18.3% | 27.6% |
| Beta vs S&P 500 | 1.12 | 0.72 |
| Max drawdown (3Y) | -25.3% | -60.6% |
| Market cap | $0.3B | $67.6B |
| P/E (trailing) | 23.9 | 19.5 |
| Dividend yield | 8.76% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | ASG | BSX |
|---|---|---|
| 2022 | -40.9% | +8.9% |
| 2023 | +16.2% | +24.9% |
| 2024 | +16.8% | +54.5% |
| 2025 | +2.2% | +6.8% |
| 2026 | +6.0% | -51.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASG and BSX good diversifiers for each other?
Reasonably. At 0.44, ASG and BSX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ASG and BSX?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.25 over the last year and 0.47 over 5 years.
Is BSX a good diversifier for ASG?
Reasonably. At 0.44, ASG and BSX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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.
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Related comparisons
Hubs: ASG correlations · BSX correlations
