BSX vs SPOT: Correlation
How closely do Boston Scientific (BSX) and Spotify Technology S.A. (SPOT) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BSX and SPOT?
Over the past 3 years, BSX and SPOT moved with a correlation of 0.42, which is moderate. Little has changed lately, as the 1-year reading of 0.48 lands near the 3-year figure. Over 5 years the correlation is 0.42, and the annualized covariance of weekly returns is 461.1 %².
By 3-year correlation, SPOT places #15 of the 33 assets tracked against BSX. The last year tells two different stories: SPOT led by 32.0 percentage points, -55.9% for BSX against -23.9% for SPOT.
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 SPOT: side by side
| BSX (Boston Scientific) | SPOT (Spotify Technology S.A.) | |
|---|---|---|
| 1-year return | -55.9% | -23.9% |
| 5-year return | +4.1% | +126.2% |
| Volatility (ann.) | 27.6% | 39.5% |
| Beta vs S&P 500 | 0.72 | 0.85 |
| Max drawdown (3Y) | -60.6% | -46.8% |
| Market cap | $67.6B | $108.4B |
| P/E (trailing) | 19.5 | 29.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | BSX | SPOT |
|---|---|---|
| 2022 | +8.9% | -66.3% |
| 2023 | +24.9% | +138.0% |
| 2024 | +54.5% | +138.1% |
| 2025 | +6.8% | +29.8% |
| 2026 | -51.1% | -9.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BSX and SPOT good diversifiers for each other?
Reasonably. At 0.42, BSX and SPOT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BSX and SPOT?
The BSX/SPOT correlation stands at 0.42 on a 3-year window (1 year: 0.48, 5 years: 0.42), computed from weekly returns as of 2026-08-27.
Is SPOT a good diversifier for BSX?
Reasonably. At 0.42, BSX and SPOT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 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/bsx-vs-spot.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bsx-vs-spot/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BSX correlations · SPOT correlations
