BAX vs SOLV: Correlation
Measured on weekly returns over the past three years, Baxter International (BAX) and Solventum (SOLV) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BAX and SOLV?
On 3 years of weekly data the BAX/SOLV correlation comes out at 0.51, moderate. Recent behaviour matches the longer record: 0.52 over 1 year against 0.51 over 3. The 5-year figure is n/a, and annualized covariance runs at 618.3 %².
Within BAX's tracked universe of 43 assets, SOLV comes in at #16 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SOLV ahead by 18.1 points (+6.6% versus +24.7%). The link looks structural: the rolling one-year correlation barely moved, holding between 0.41 and 0.65.
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 SOLV: side by side
| BAX (Baxter International) | SOLV (Solventum) | |
|---|---|---|
| 1-year return | +6.6% | +24.7% |
| 5-year return | -62.2% | n/a |
| Volatility (ann.) | 38.4% | 30.4% |
| Beta vs S&P 500 | 0.89 | 0.62 |
| Max drawdown (3Y) | -62.4% | -40.0% |
| Market cap | $13.4B | $15.5B |
| P/E (trailing) | – | 11.2 |
| Dividend yield | 0.75% | 0.00% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | BAX | SOLV |
|---|---|---|
| 2022 | -39.6% | – |
| 2023 | -21.9% | – |
| 2024 | -22.4% | – |
| 2025 | -33.3% | +20.0% |
| 2026 | +35.8% | +14.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAX and SOLV good diversifiers for each other?
To a limited degree. At 0.51 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 BAX and SOLV?
The BAX/SOLV correlation stands at 0.51 on a 3-year window (1 year: 0.52, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SOLV a good diversifier for BAX?
To a limited degree. At 0.51 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 0.51 mean?
On the −1 to +1 scale, 0.51 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-solv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bax-vs-solv/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BAX correlations · SOLV correlations
