BMY vs GSHD: Correlation
Bristol Myers Squibb (BMY) and Goosehead Insurance, Inc. (GSHD) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BMY and GSHD?
Across a 3-year window, the weekly returns of BMY and GSHD correlate at 0.42, moderate. The relationship has been stable: the 1-year correlation (0.48) sits close to the 3-year figure. Stretching to 5 years gives 0.31, with an annualized covariance of 649.6 %².
Among the 31 assets we track against BMY, GSHD ranks #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months BMY outperformed by 65.8 percentage points (+47.3% for BMY against -18.5% for GSHD). One caveat on sizing: GSHD 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.
BMY vs GSHD: side by side
| BMY (Bristol Myers Squibb) | GSHD (Goosehead Insurance, Inc.) | |
|---|---|---|
| 1-year return | +47.3% | -18.5% |
| 5-year return | +22.3% | -47.2% |
| Volatility (ann.) | 27.8% | 55.1% |
| Beta vs S&P 500 | 0.20 | 0.42 |
| Max drawdown (3Y) | -34.1% | -72.2% |
| Market cap | $136.8B | $2.5B |
| P/E (trailing) | 14.9 | 51.4 |
| Dividend yield | 3.71% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | BMY | GSHD |
|---|---|---|
| 2022 | +19.0% | -73.6% |
| 2023 | -26.1% | +120.7% |
| 2024 | +15.8% | +41.5% |
| 2025 | +0.1% | -27.4% |
| 2026 | +28.3% | -4.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BMY and GSHD good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BMY and GSHD?
As of 2026-08-27, the correlation of weekly returns between BMY and GSHD is 0.42 over 3 years, 0.48 over 1 year and 0.31 over 5 years.
Is GSHD a good diversifier for BMY?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 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/bmy-vs-gshd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bmy-vs-gshd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BMY correlations · GSHD correlations
