BMY vs HIG: Correlation
How closely do Bristol Myers Squibb (BMY) and Hartford (The) (HIG) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BMY and HIG?
Over the past 3 years, BMY and HIG moved with a correlation of 0.43, which is moderate. The relationship has been stable: the 1-year correlation (0.41) sits close to the 3-year figure. Over 5 years the correlation is 0.39, and the annualized covariance of weekly returns is 230.9 %².
Among the 31 assets we track against BMY, HIG ranks #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months BMY outperformed by 41.9 percentage points (+47.3% for BMY against +5.4% for HIG). On a rolling one-year basis the correlation drifted between 0.20 and 0.64, a moderate band.
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 HIG: side by side
| BMY (Bristol Myers Squibb) | HIG (Hartford (The)) | |
|---|---|---|
| 1-year return | +47.3% | +5.4% |
| 5-year return | +22.3% | +127.4% |
| Volatility (ann.) | 27.8% | 19.5% |
| Beta vs S&P 500 | 0.20 | 0.39 |
| Max drawdown (3Y) | -34.1% | -13.7% |
| Market cap | $136.8B | $37.3B |
| P/E (trailing) | 14.9 | 9.7 |
| Dividend yield | 3.71% | 1.66% |
| Sector / category | Health Care | Financials |
Year-by-year returns
| Year | BMY | HIG |
|---|---|---|
| 2022 | +19.0% | +12.3% |
| 2023 | -26.1% | +8.5% |
| 2024 | +15.8% | +38.5% |
| 2025 | +0.1% | +28.1% |
| 2026 | +28.3% | +0.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BMY and HIG good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BMY and HIG?
As of 2026-08-27, the correlation of weekly returns between BMY and HIG is 0.43 over 3 years, 0.41 over 1 year and 0.39 over 5 years.
Is HIG a good diversifier for BMY?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 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-hig.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bmy-vs-hig/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BMY correlations · HIG correlations
