BIIB vs SCHD: Correlation
Biogen (BIIB) and Schwab US Dividend Equity ETF (SCHD) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BIIB and SCHD?
Across a 3-year window, the weekly returns of BIIB and SCHD correlate at 0.48, moderate. Little has changed lately, as the 1-year reading of 0.41 lands near the 3-year figure. Stretching to 5 years gives 0.37, with an annualized covariance of 184.3 %².
Among the 32 assets we track against BIIB, SCHD ranks #7 by 3-year correlation. The last year tells two different stories: BIIB led by 32.8 percentage points, +62.4% for BIIB against +29.6% for SCHD. Across three years, the rolling one-year figure varied moderately, from 0.08 to 0.55. Note the risk asymmetry: BIIB runs 2.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 SCHD: side by side
| BIIB (Biogen) | SCHD (Schwab US Dividend Equity ETF) | |
|---|---|---|
| 1-year return | +62.4% | +29.6% |
| 5-year return | -35.7% | +60.9% |
| Volatility (ann.) | 30.1% | 12.9% |
| Beta vs S&P 500 | 0.53 | 0.52 |
| Max drawdown (3Y) | -57.7% | -16.1% |
| Market cap | $32.7B | – |
| P/E (trailing) | 39.2 | – |
| Dividend yield | 0.00% | 3.13% |
| Expense ratio | – | 0.06% |
| Assets under management | – | $104.2B |
| Sector / category | Health Care | ETF · Dividend |
SCHD, Schwab ETFs's Large Value fund, carries $104.2B under management, 101 holdings, a 0.06% expense ratio, a 3.13% trailing dividend yield.
Year-by-year returns
| Year | BIIB | SCHD |
|---|---|---|
| 2022 | +15.4% | -3.3% |
| 2023 | -6.6% | +4.5% |
| 2024 | -40.9% | +11.7% |
| 2025 | +15.1% | +4.3% |
| 2026 | +25.9% | +29.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BIIB and SCHD good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BIIB and SCHD?
As of 2026-08-27, the correlation of weekly returns between BIIB and SCHD is 0.48 over 3 years, 0.41 over 1 year and 0.37 over 5 years.
Is SCHD a good diversifier for BIIB?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
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
$ curl https://www.pairbook.io/api/v1/pairs/biib-vs-schd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/biib-vs-schd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BIIB correlations · SCHD correlations
