BAX vs SWK: Correlation
Measured on weekly returns over the past three years, Baxter International (BAX) and Stanley Black & Decker (SWK) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BAX and SWK?
Over the past 3 years, BAX and SWK moved with a correlation of 0.53, which is moderate. Recent behaviour matches the longer record: 0.53 over 1 year against 0.53 over 3. Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 725.0 %².
Among the 43 assets we track against BAX, SWK ranks #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SWK outperformed by 30.4 percentage points (+6.6% for BAX against +37.0% for SWK). Across three years, the rolling one-year figure varied moderately, from 0.29 to 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 SWK: side by side
| BAX (Baxter International) | SWK (Stanley Black & Decker) | |
|---|---|---|
| 1-year return | +6.6% | +37.0% |
| 5-year return | -62.2% | -39.1% |
| Volatility (ann.) | 38.4% | 35.4% |
| Beta vs S&P 500 | 0.89 | 1.19 |
| Max drawdown (3Y) | -62.4% | -48.3% |
| Market cap | $13.4B | $15.0B |
| P/E (trailing) | – | 24.4 |
| Dividend yield | 0.75% | 3.33% |
| Sector / category | Health Care | Industrials |
Year-by-year returns
| Year | BAX | SWK |
|---|---|---|
| 2022 | -39.6% | -58.9% |
| 2023 | -21.9% | +35.6% |
| 2024 | -22.4% | -15.2% |
| 2025 | -33.3% | -3.2% |
| 2026 | +35.8% | +36.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAX and SWK good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BAX and SWK?
As of 2026-08-27, the correlation of weekly returns between BAX and SWK is 0.53 over 3 years, 0.53 over 1 year and 0.53 over 5 years.
Is SWK a good diversifier for BAX?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 mean?
A reading of 0.53 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Hubs: BAX correlations · SWK correlations
