BME vs TMO: Correlation
How closely do Blackrock Health Sciences Trust (BME) and Thermo Fisher Scientific (TMO) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BME and TMO?
Across a 3-year window, the weekly returns of BME and TMO correlate at 0.62, strong. The relationship has been stable: the 1-year correlation (0.66) sits close to the 3-year figure. Stretching to 5 years gives 0.59, with an annualized covariance of 263.9 %².
Within BME's tracked universe of 34 assets, TMO comes in at #8 by 3-year correlation. Over the last 12 months BME came out ahead by 6.3 percentage points (+36.0% against +29.7%). One caveat on sizing: TMO is 2.0 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 TMO: side by side
| BME (Blackrock Health Sciences Trust) | TMO (Thermo Fisher Scientific) | |
|---|---|---|
| 1-year return | +36.0% | +29.7% |
| 5-year return | +33.5% | +14.5% |
| Volatility (ann.) | 14.4% | 29.4% |
| Beta vs S&P 500 | 0.45 | 0.74 |
| Max drawdown (3Y) | -14.4% | -37.3% |
| Market cap | – | $233.2B |
| P/E (trailing) | 7.8 | 34.1 |
| Dividend yield | 6.80% | 0.28% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | BME | TMO |
|---|---|---|
| 2022 | -4.6% | -17.3% |
| 2023 | -1.1% | -3.4% |
| 2024 | -0.1% | -1.7% |
| 2025 | +17.9% | +11.8% |
| 2026 | +17.9% | +9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BME and TMO good diversifiers for each other?
Only partially. A correlation of 0.62 means BME and TMO 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 TMO?
The BME/TMO correlation stands at 0.62 on a 3-year window (1 year: 0.66, 5 years: 0.59), computed from weekly returns as of 2026-08-27.
Is TMO a good diversifier for BME?
Only partially. A correlation of 0.62 means BME and TMO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.62 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-tmo.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bme-vs-tmo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BME correlations · TMO correlations
