BDJ vs MDT: Correlation
How closely do Blackrock Enhanced Equity Dividend Trust (BDJ) and Medtronic (MDT) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BDJ and MDT?
On 3 years of weekly data the BDJ/MDT correlation comes out at 0.46, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.26 versus 0.46 over 3 years. The 5-year figure is 0.46, and annualized covariance runs at 146.2 %².
By 3-year correlation, MDT places #11 of the 16 assets tracked against BDJ. Their recent paths diverged sharply: over the last 12 months BDJ outperformed by 18.1 percentage points (+19.0% for BDJ against +0.9% for MDT).
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.
BDJ vs MDT: side by side
| BDJ (Blackrock Enhanced Equity Dividend Trust) | MDT (Medtronic) | |
|---|---|---|
| 1-year return | +19.0% | +0.9% |
| 5-year return | +53.5% | -21.4% |
| Volatility (ann.) | 15.1% | 21.0% |
| Beta vs S&P 500 | 0.72 | 0.37 |
| Max drawdown (3Y) | -14.4% | -28.9% |
| Market cap | $1.7B | $115.2B |
| P/E (trailing) | 6.2 | 24.1 |
| Dividend yield | 7.57% | 3.09% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | BDJ | MDT |
|---|---|---|
| 2022 | -1.7% | -22.6% |
| 2023 | -6.7% | +9.6% |
| 2024 | +16.8% | +0.3% |
| 2025 | +26.1% | +24.0% |
| 2026 | +8.9% | -4.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BDJ and MDT good diversifiers for each other?
Reasonably. At 0.46, BDJ and MDT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BDJ and MDT?
As of 2026-08-27, the correlation of weekly returns between BDJ and MDT is 0.46 over 3 years, 0.26 over 1 year and 0.46 over 5 years.
Is MDT a good diversifier for BDJ?
Reasonably. At 0.46, BDJ and MDT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.46 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/bdj-vs-mdt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bdj-vs-mdt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BDJ correlations · MDT correlations
