BHC vs GEHC: Correlation
How closely do Bausch Health Companies Inc. (BHC) and GE HealthCare (GEHC) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BHC and GEHC?
Across a 3-year window, the weekly returns of BHC and GEHC correlate at 0.40, moderate. The past 12 months show a tighter link (0.54) than the 3-year average (0.40). Stretching to 5 years gives 0.42, with an annualized covariance of 881.0 %².
Within BHC's tracked universe of 11 assets, GEHC comes in at #5 by 3-year correlation. On 12-month performance GEHC holds a 11.1-point edge, -13.3% against -2.2%. Risk is not evenly split, since BHC carries 2.1 times the volatility of the other side.
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.
BHC vs GEHC: side by side
| BHC (Bausch Health Companies Inc.) | GEHC (GE HealthCare) | |
|---|---|---|
| 1-year return | -13.3% | -2.2% |
| 5-year return | -78.4% | n/a |
| Volatility (ann.) | 67.6% | 32.4% |
| Beta vs S&P 500 | 0.94 | 1.22 |
| Max drawdown (3Y) | -59.3% | -37.4% |
| Market cap | $2.4B | $32.7B |
| P/E (trailing) | – | 16.9 |
| Dividend yield | 0.00% | 0.19% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | BHC | GEHC |
|---|---|---|
| 2022 | -77.3% | – |
| 2023 | +27.7% | +32.6% |
| 2024 | +0.5% | +1.3% |
| 2025 | -13.8% | +5.1% |
| 2026 | -9.4% | -11.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BHC and GEHC good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BHC and GEHC?
The BHC/GEHC correlation stands at 0.40 on a 3-year window (1 year: 0.54, 5 years: 0.42), computed from weekly returns as of 2026-08-27.
Is GEHC a good diversifier for BHC?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 mean?
A reading of 0.40 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bhc-vs-gehc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bhc-vs-gehc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BHC correlations · GEHC correlations
