BAX vs STZ: Correlation
Baxter International (BAX) and Constellation Brands (STZ) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BAX and STZ?
Across a 3-year window, the weekly returns of BAX and STZ correlate at 0.44, moderate. Little has changed lately, as the 1-year reading of 0.51 lands near the 3-year figure. Stretching to 5 years gives 0.41, with an annualized covariance of 451.9 %².
By 3-year correlation, STZ places #24 of the 43 assets tracked against BAX. The last year tells two different stories: BAX led by 22.3 percentage points, +6.6% for BAX against -15.7% for STZ. Across three years, the rolling one-year figure varied moderately, from 0.15 to 0.53.
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 STZ: side by side
| BAX (Baxter International) | STZ (Constellation Brands) | |
|---|---|---|
| 1-year return | +6.6% | -15.7% |
| 5-year return | -62.2% | -31.9% |
| Volatility (ann.) | 38.4% | 26.6% |
| Beta vs S&P 500 | 0.89 | 0.41 |
| Max drawdown (3Y) | -62.4% | -51.3% |
| Market cap | $13.4B | $22.4B |
| P/E (trailing) | – | 12.8 |
| Dividend yield | 0.75% | 3.04% |
| Sector / category | Health Care | Consumer Staples |
Year-by-year returns
| Year | BAX | STZ |
|---|---|---|
| 2022 | -39.6% | -6.4% |
| 2023 | -21.9% | +5.8% |
| 2024 | -22.4% | -7.1% |
| 2025 | -33.3% | -36.0% |
| 2026 | +35.8% | -2.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAX and STZ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BAX and STZ?
As of 2026-08-27, the correlation of weekly returns between BAX and STZ is 0.44 over 3 years, 0.51 over 1 year and 0.41 over 5 years.
Is STZ a good diversifier for BAX?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 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/bax-vs-stz.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bax-vs-stz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BAX correlations · STZ correlations
