AZN vs LLY: Correlation
How closely do AstraZeneca PLC (AZN) and Lilly (Eli) (LLY) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AZN and LLY?
On 3 years of weekly data the AZN/LLY correlation comes out at 0.43, moderate. The link has tightened recently: the 1-year correlation (0.60) runs above the 3-year figure (0.43). The 5-year figure is 0.45, and annualized covariance runs at 392.3 %².
By 3-year correlation, LLY places #7 of the 14 assets tracked against AZN. The last year tells two different stories: LLY led by 57.2 percentage points, +4.0% for AZN against +61.2% for LLY.
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.
AZN vs LLY: side by side
| AZN (AstraZeneca PLC) | LLY (Lilly (Eli)) | |
|---|---|---|
| 1-year return | +4.0% | +61.2% |
| 5-year return | +54.7% | +369.2% |
| Volatility (ann.) | 25.1% | 36.6% |
| Beta vs S&P 500 | 0.21 | 0.57 |
| Max drawdown (3Y) | -27.9% | -34.5% |
| Market cap | $255.2B | $1,048.8B |
| P/E (trailing) | 24.9 | 40.0 |
| Dividend yield | 1.94% | 0.54% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | AZN | LLY |
|---|---|---|
| 2022 | +19.2% | +34.3% |
| 2023 | +1.4% | +60.9% |
| 2024 | -0.6% | +33.3% |
| 2025 | +43.3% | +40.2% |
| 2026 | -9.6% | +10.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AZN and LLY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AZN and LLY?
The AZN/LLY correlation stands at 0.43 on a 3-year window (1 year: 0.60, 5 years: 0.45), computed from weekly returns as of 2026-08-27.
Is LLY a good diversifier for AZN?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/azn-vs-lly.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/azn-vs-lly/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AZN correlations · LLY correlations
