BIIB vs DHR: Correlation
How closely do Biogen (BIIB) and Danaher Corporation (DHR) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BIIB and DHR?
Across a 3-year window, the weekly returns of BIIB and DHR correlate at 0.43, moderate. Recent behaviour matches the longer record: 0.43 over 1 year against 0.43 over 3. Stretching to 5 years gives 0.31, with an annualized covariance of 378.5 %².
Among the 32 assets we track against BIIB, DHR ranks #16 by 3-year correlation. Correlation aside, the last 12 months split them widely, with BIIB ahead by 56.4 points (+62.4% versus +6.0%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.04 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.
BIIB vs DHR: side by side
| BIIB (Biogen) | DHR (Danaher Corporation) | |
|---|---|---|
| 1-year return | +62.4% | +6.0% |
| 5-year return | -35.7% | -23.8% |
| Volatility (ann.) | 30.1% | 29.5% |
| Beta vs S&P 500 | 0.53 | 0.82 |
| Max drawdown (3Y) | -57.7% | -41.7% |
| Market cap | $32.7B | $151.6B |
| P/E (trailing) | 39.2 | 38.4 |
| Dividend yield | 0.00% | 0.67% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | BIIB | DHR |
|---|---|---|
| 2022 | +15.4% | -19.0% |
| 2023 | -6.6% | -1.2% |
| 2024 | -40.9% | -0.3% |
| 2025 | +15.1% | +0.4% |
| 2026 | +25.9% | -5.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BIIB and DHR good diversifiers for each other?
Reasonably. At 0.43, BIIB and DHR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BIIB and DHR?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.43 over the last year and 0.31 over 5 years.
Is DHR a good diversifier for BIIB?
Reasonably. At 0.43, BIIB and DHR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.43 mean?
On the −1 to +1 scale, 0.43 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: BIIB correlations · DHR correlations
