BMY vs SCHD: Correlation
Measured on weekly returns over the past three years, Bristol Myers Squibb (BMY) and Schwab US Dividend Equity ETF (SCHD) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BMY and SCHD?
On 3 years of weekly data the BMY/SCHD correlation comes out at 0.52, moderate. The link has tightened recently: the 1-year correlation (0.65) runs above the 3-year figure (0.52). The 5-year figure is 0.47, and annualized covariance runs at 187.9 %².
SCHD is one of the assets that tracks BMY most closely: it ranks #1 out of the 31 assets we track against BMY. Their recent paths diverged sharply: over the last 12 months BMY outperformed by 17.7 percentage points (+47.3% for BMY against +29.6% for SCHD). The rolling one-year correlation moved between 0.33 and 0.70 over the past three years, a moderate range. Risk is not evenly split, since BMY carries 2.2 times the volatility of the other side.
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 SCHD: side by side
| BMY (Bristol Myers Squibb) | SCHD (Schwab US Dividend Equity ETF) | |
|---|---|---|
| 1-year return | +47.3% | +29.6% |
| 5-year return | +22.3% | +60.9% |
| Volatility (ann.) | 27.8% | 12.9% |
| Beta vs S&P 500 | 0.20 | 0.52 |
| Max drawdown (3Y) | -34.1% | -16.1% |
| Market cap | $136.8B | – |
| P/E (trailing) | 14.9 | – |
| Dividend yield | 3.71% | 3.13% |
| Expense ratio | – | 0.06% |
| Assets under management | – | $104.2B |
| Sector / category | Health Care | ETF · Dividend |
SCHD, Schwab ETFs's Large Value fund, carries $104.2B under management, 101 holdings, a 0.06% expense ratio, a 3.13% trailing dividend yield.
Year-by-year returns
| Year | BMY | SCHD |
|---|---|---|
| 2022 | +19.0% | -3.3% |
| 2023 | -26.1% | +4.5% |
| 2024 | +15.8% | +11.7% |
| 2025 | +0.1% | +4.3% |
| 2026 | +28.3% | +29.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that SCHD holds BMY at a 3.35% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are BMY and SCHD good diversifiers for each other?
Only partially. A correlation of 0.52 means BMY and SCHD share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between BMY and SCHD?
The BMY/SCHD correlation stands at 0.52 on a 3-year window (1 year: 0.65, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is SCHD a good diversifier for BMY?
Only partially. A correlation of 0.52 means BMY and SCHD share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.52 mean?
On the −1 to +1 scale, 0.52 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-schd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bmy-vs-schd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BMY correlations · SCHD correlations
