BSX vs EW: Correlation
Boston Scientific (BSX) and Edwards Lifesciences (EW) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BSX and EW?
Over the past 3 years, BSX and EW moved with a correlation of 0.36, 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 0.43, and the annualized covariance of weekly returns is 311.1 %².
By 3-year correlation, EW places #19 of the 33 assets tracked against BSX. The last year tells two different stories: EW led by 67.1 percentage points, -55.9% for BSX against +11.2% for EW. On a rolling one-year basis the correlation drifted between 0.29 and 0.66, 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.
BSX vs EW: side by side
| BSX (Boston Scientific) | EW (Edwards Lifesciences) | |
|---|---|---|
| 1-year return | -55.9% | +11.2% |
| 5-year return | +4.1% | -23.8% |
| Volatility (ann.) | 27.6% | 31.6% |
| Beta vs S&P 500 | 0.72 | 0.81 |
| Max drawdown (3Y) | -60.6% | -37.5% |
| Market cap | $67.6B | $51.8B |
| P/E (trailing) | 19.5 | 54.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | BSX | EW |
|---|---|---|
| 2022 | +8.9% | -42.4% |
| 2023 | +24.9% | +2.2% |
| 2024 | +54.5% | -2.9% |
| 2025 | +6.8% | +15.2% |
| 2026 | -51.1% | +5.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BSX and EW good diversifiers for each other?
Reasonably. At 0.36, BSX and EW keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BSX and EW?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.41 over the last year and 0.43 over 5 years.
Is EW a good diversifier for BSX?
Reasonably. At 0.36, BSX and EW keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 mean?
A reading of 0.36 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bsx-vs-ew.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bsx-vs-ew/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BSX correlations · EW correlations
