BME vs BMY: Correlation
How closely do Blackrock Health Sciences Trust (BME) and Bristol Myers Squibb (BMY) 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 BME and BMY?
Across a 3-year window, the weekly returns of BME and BMY correlate at 0.40, moderate. Little has changed lately, as the 1-year reading of 0.47 lands near the 3-year figure. Stretching to 5 years gives 0.41, with an annualized covariance of 158.7 %².
Within BME's tracked universe of 34 assets, BMY comes in at #28 by 3-year correlation. The trailing year gives BMY the advantage: +36.0% versus +47.3%, a 11.3-point spread. One caveat on sizing: BMY is 1.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
BME vs BMY: side by side
| BME (Blackrock Health Sciences Trust) | BMY (Bristol Myers Squibb) | |
|---|---|---|
| 1-year return | +36.0% | +47.3% |
| 5-year return | +33.5% | +22.3% |
| Volatility (ann.) | 14.4% | 27.8% |
| Beta vs S&P 500 | 0.45 | 0.20 |
| Max drawdown (3Y) | -14.4% | -34.1% |
| Market cap | – | $136.8B |
| P/E (trailing) | 7.8 | 14.9 |
| Dividend yield | 6.80% | 3.71% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | BME | BMY |
|---|---|---|
| 2022 | -4.6% | +19.0% |
| 2023 | -1.1% | -26.1% |
| 2024 | -0.1% | +15.8% |
| 2025 | +17.9% | +0.1% |
| 2026 | +17.9% | +28.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BME and BMY 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 BME and BMY?
The BME/BMY correlation stands at 0.40 on a 3-year window (1 year: 0.47, 5 years: 0.41), computed from weekly returns as of 2026-08-27.
Is BMY a good diversifier for BME?
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?
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/bme-vs-bmy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bme-vs-bmy/)
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Related comparisons
Hubs: BME correlations · BMY correlations
