BAX vs MDRR: Correlation
How closely do Baxter International (BAX) and Medalist Diversified, Inc. (MDRR) trade together? Their weekly returns over three years give a correlation of -0.17, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BAX and MDRR?
Across a 3-year window, the weekly returns of BAX and MDRR correlate at -0.17, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.11) sits close to the 3-year figure. Stretching to 5 years gives -0.12, with an annualized covariance of -187.1 %².
By 3-year correlation, MDRR places #34 of the 43 assets tracked against BAX. Twelve-month performance is nearly a tie, at +6.6% for BAX and +4.8% for MDRR.
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.
BAX vs MDRR: side by side
| BAX (Baxter International) | MDRR (Medalist Diversified, Inc.) | |
|---|---|---|
| 1-year return | +6.6% | +4.8% |
| 5-year return | -62.2% | -31.3% |
| Volatility (ann.) | 38.4% | 28.1% |
| Beta vs S&P 500 | 0.89 | -0.02 |
| Max drawdown (3Y) | -62.4% | -29.5% |
| Market cap | $13.4B | – |
| P/E (trailing) | – | 3.1 |
| Dividend yield | 0.75% | 2.21% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | BAX | MDRR |
|---|---|---|
| 2022 | -39.6% | -37.3% |
| 2023 | -21.9% | -4.0% |
| 2024 | -22.4% | +28.6% |
| 2025 | -33.3% | -5.5% |
| 2026 | +35.8% | -0.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAX and MDRR good diversifiers for each other?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between BAX and MDRR?
Using weekly returns as of 2026-08-27: -0.17 over 3 years, with -0.11 over the last year and -0.12 over 5 years.
Is MDRR a good diversifier for BAX?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
What does a correlation of -0.17 mean?
On the −1 to +1 scale, -0.17 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/bax-vs-mdrr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bax-vs-mdrr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BAX correlations · MDRR correlations
