BME vs COO: Correlation
How closely do Blackrock Health Sciences Trust (BME) and Cooper Companies (The) (COO) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BME and COO?
Over the past 3 years, BME and COO moved with a correlation of 0.52, which is moderate. Recent behaviour matches the longer record: 0.54 over 1 year against 0.52 over 3. Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 206.1 %².
Within BME's tracked universe of 34 assets, COO comes in at #21 by 3-year correlation. The last year tells two different stories: BME led by 40.3 percentage points, +36.0% for BME against -4.3% for COO. Risk is not evenly split, since COO carries 1.9 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.
BME vs COO: side by side
| BME (Blackrock Health Sciences Trust) | COO (Cooper Companies (The)) | |
|---|---|---|
| 1-year return | +36.0% | -4.3% |
| 5-year return | +33.5% | -36.8% |
| Volatility (ann.) | 14.4% | 27.7% |
| Beta vs S&P 500 | 0.45 | 0.69 |
| Max drawdown (3Y) | -14.4% | -47.0% |
| Market cap | – | – |
| P/E (trailing) | 7.8 | 61.7 |
| Dividend yield | 6.80% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | BME | COO |
|---|---|---|
| 2022 | -4.6% | -21.1% |
| 2023 | -1.1% | +14.5% |
| 2024 | -0.1% | -2.8% |
| 2025 | +17.9% | -10.8% |
| 2026 | +17.9% | -13.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BME and COO good diversifiers for each other?
Only partially. A correlation of 0.52 means BME and COO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between BME and COO?
As of 2026-08-27, the correlation of weekly returns between BME and COO is 0.52 over 3 years, 0.54 over 1 year and 0.49 over 5 years.
Is COO a good diversifier for BME?
Only partially. A correlation of 0.52 means BME and COO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.52 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-coo.json
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Related comparisons
Hubs: BME correlations · COO correlations
