BMEZ vs ZTS: Correlation
Measured on weekly returns over the past three years, BlackRock Health Sciences Term Trust (BMEZ) and Zoetis (ZTS) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BMEZ and ZTS?
On 3 years of weekly data the BMEZ/ZTS correlation comes out at 0.41, moderate. Recent behaviour matches the longer record: 0.32 over 1 year against 0.41 over 3. The 5-year figure is 0.47, and annualized covariance runs at 204.1 %².
Within BMEZ's tracked universe of 23 assets, ZTS comes in at #14 by 3-year correlation. The last year tells two different stories: BMEZ led by 82.2 percentage points, +31.4% for BMEZ against -50.8% for ZTS. Note the risk asymmetry: ZTS runs 1.8 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.
BMEZ vs ZTS: side by side
| BMEZ (BlackRock Health Sciences Term Trust) | ZTS (Zoetis) | |
|---|---|---|
| 1-year return | +31.4% | -50.8% |
| 5-year return | +0.9% | -61.5% |
| Volatility (ann.) | 16.5% | 30.1% |
| Beta vs S&P 500 | 0.63 | 0.51 |
| Max drawdown (3Y) | -18.3% | -63.0% |
| Market cap | $1.1B | $31.0B |
| P/E (trailing) | 6.7 | 12.7 |
| Dividend yield | 0.00% | 2.66% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | BMEZ | ZTS |
|---|---|---|
| 2022 | -32.7% | -39.5% |
| 2023 | +5.1% | +35.9% |
| 2024 | +9.5% | -16.6% |
| 2025 | +18.7% | -21.8% |
| 2026 | +20.6% | -39.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BMEZ and ZTS good diversifiers for each other?
Reasonably. At 0.41, BMEZ and ZTS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BMEZ and ZTS?
Using weekly returns as of 2026-08-27: 0.41 over 3 years, with 0.32 over the last year and 0.47 over 5 years.
Is ZTS a good diversifier for BMEZ?
Reasonably. At 0.41, BMEZ and ZTS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bmez-vs-zts.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bmez-vs-zts/)
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Related comparisons
Hubs: BMEZ correlations · ZTS correlations
