BMY vs GRX: Correlation
Measured on weekly returns over the past three years, Bristol Myers Squibb (BMY) and The Gabelli Healthcare & Wellness Trust (GRX) carry a correlation of 0.46, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BMY and GRX?
Across a 3-year window, the weekly returns of BMY and GRX correlate at 0.46, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.59 versus 0.46 over 3 years. Stretching to 5 years gives 0.42, with an annualized covariance of 193.9 %².
In BMY's tracked universe of 31 assets, GRX sits right near the top at #3. Their recent paths diverged sharply: over the last 12 months BMY outperformed by 33.0 percentage points (+47.3% for BMY against +14.3% for GRX). Note the risk asymmetry: BMY 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.
BMY vs GRX: side by side
| BMY (Bristol Myers Squibb) | GRX (The Gabelli Healthcare & Wellness Trust) | |
|---|---|---|
| 1-year return | +47.3% | +14.3% |
| 5-year return | +22.3% | +1.5% |
| Volatility (ann.) | 27.8% | 15.1% |
| Beta vs S&P 500 | 0.20 | 0.46 |
| Max drawdown (3Y) | -34.1% | -17.9% |
| Market cap | $136.8B | – |
| P/E (trailing) | 14.9 | 67.0 |
| Dividend yield | 3.71% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | BMY | GRX |
|---|---|---|
| 2022 | +19.0% | -20.0% |
| 2023 | -26.1% | -3.3% |
| 2024 | +15.8% | +9.6% |
| 2025 | +0.1% | +7.0% |
| 2026 | +28.3% | +8.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BMY and GRX good diversifiers for each other?
Reasonably. At 0.46, BMY and GRX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BMY and GRX?
Using weekly returns as of 2026-08-27: 0.46 over 3 years, with 0.59 over the last year and 0.42 over 5 years.
Is GRX a good diversifier for BMY?
Reasonably. At 0.46, BMY and GRX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.46 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/bmy-vs-grx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bmy-vs-grx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BMY correlations · GRX correlations
