BDX vs DHR: Correlation
Measured on weekly returns over the past three years, Becton Dickinson (BDX) and Danaher Corporation (DHR) carry a correlation of 0.48, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BDX and DHR?
Across a 3-year window, the weekly returns of BDX and DHR correlate at 0.48, moderate. The relationship has been stable: the 1-year correlation (0.57) sits close to the 3-year figure. Stretching to 5 years gives 0.46, with an annualized covariance of 342.4 %².
Few assets follow BDX as closely as DHR, which ranks #2 of 28 tracked partners. Correlation aside, the last 12 months split them widely, with BDX ahead by 19.5 points (+25.5% versus +6.0%). On a rolling one-year basis the correlation drifted between 0.26 and 0.58, a moderate band.
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.
BDX vs DHR: side by side
| BDX (Becton Dickinson) | DHR (Danaher Corporation) | |
|---|---|---|
| 1-year return | +25.5% | +6.0% |
| 5-year return | +6.8% | -23.8% |
| Volatility (ann.) | 24.0% | 29.5% |
| Beta vs S&P 500 | 0.33 | 0.82 |
| Max drawdown (3Y) | -39.6% | -41.7% |
| Market cap | $51.2B | $151.6B |
| P/E (trailing) | 32.9 | 38.4 |
| Dividend yield | 2.20% | 0.67% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | BDX | DHR |
|---|---|---|
| 2022 | +5.1% | -19.0% |
| 2023 | -2.7% | -1.2% |
| 2024 | -5.4% | -0.3% |
| 2025 | -12.6% | +0.4% |
| 2026 | +25.0% | -5.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BDX and DHR good diversifiers for each other?
Reasonably. At 0.48, BDX and DHR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BDX and DHR?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.57 over the last year and 0.46 over 5 years.
Is DHR a good diversifier for BDX?
Reasonably. At 0.48, BDX and DHR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 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
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Related comparisons
Hubs: BDX correlations · DHR correlations
