BMY vs LEG: Correlation
Bristol Myers Squibb (BMY) and Leggett & Platt, Incorporated (LEG) show a moderate relationship: their 3-year correlation of weekly returns is 0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BMY and LEG?
On 3 years of weekly data the BMY/LEG correlation comes out at 0.41, moderate. The link has tightened recently: the 1-year correlation (0.56) runs above the 3-year figure (0.41). The 5-year figure is 0.35, and annualized covariance runs at 557.1 %².
Among the 31 assets we track against BMY, LEG ranks #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months BMY outperformed by 34.6 percentage points (+47.3% for BMY against +12.7% for LEG). Note the risk asymmetry: LEG runs 1.7 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 LEG: side by side
| BMY (Bristol Myers Squibb) | LEG (Leggett & Platt, Incorporated) | |
|---|---|---|
| 1-year return | +47.3% | +12.7% |
| 5-year return | +22.3% | -72.6% |
| Volatility (ann.) | 27.8% | 48.5% |
| Beta vs S&P 500 | 0.20 | 1.29 |
| Max drawdown (3Y) | -34.1% | -76.8% |
| Market cap | $136.8B | $1.3B |
| P/E (trailing) | 14.9 | 5.9 |
| Dividend yield | 3.71% | 2.15% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | BMY | LEG |
|---|---|---|
| 2022 | +19.0% | -17.8% |
| 2023 | -26.1% | -13.5% |
| 2024 | +15.8% | -61.9% |
| 2025 | +0.1% | +17.0% |
| 2026 | +28.3% | +1.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BMY and LEG good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BMY and LEG?
As of 2026-08-27, the correlation of weekly returns between BMY and LEG is 0.41 over 3 years, 0.56 over 1 year and 0.35 over 5 years.
Is LEG a good diversifier for BMY?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined 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.
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Related comparisons
Hubs: BMY correlations · LEG correlations
