BSX vs LBTYB: Correlation
How closely do Boston Scientific (BSX) and Liberty Global Ltd. - Class B (LBTYB) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BSX and LBTYB?
Across a 3-year window, the weekly returns of BSX and LBTYB correlate at -0.19, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.33) than the 3-year average (-0.19). Stretching to 5 years gives -0.12, with an annualized covariance of -307.2 %².
By 3-year correlation, LBTYB places #24 of the 33 assets tracked against BSX. Their recent paths diverged sharply: over the last 12 months LBTYB outperformed by 66.4 percentage points (-55.9% for BSX against +10.5% for LBTYB). Note the risk asymmetry: LBTYB runs 2.1 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.
BSX vs LBTYB: side by side
| BSX (Boston Scientific) | LBTYB (Liberty Global Ltd. - Class B) | |
|---|---|---|
| 1-year return | -55.9% | +10.5% |
| 5-year return | +4.1% | -55.0% |
| Volatility (ann.) | 27.6% | 57.5% |
| Beta vs S&P 500 | 0.72 | 0.32 |
| Max drawdown (3Y) | -60.6% | -58.2% |
| Market cap | $67.6B | $4.4B |
| P/E (trailing) | 19.5 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | BSX | LBTYB |
|---|---|---|
| 2022 | +8.9% | -32.5% |
| 2023 | +24.9% | -6.3% |
| 2024 | +54.5% | -27.3% |
| 2025 | +6.8% | -8.7% |
| 2026 | -51.1% | +9.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BSX and LBTYB good diversifiers for each other?
Yes. With a correlation of -0.19, BSX and LBTYB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BSX and LBTYB?
As of 2026-08-27, the correlation of weekly returns between BSX and LBTYB is -0.19 over 3 years, -0.33 over 1 year and -0.12 over 5 years.
Is LBTYB a good diversifier for BSX?
Yes. With a correlation of -0.19, BSX and LBTYB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 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.
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Related comparisons
Hubs: BSX correlations · LBTYB correlations
