BUD vs SNN: Correlation
Measured on weekly returns over the past three years, Anheuser-Busch Inbev SA Sponsored ADR (Belgium) (BUD) and Smith & Nephew SNATS, Inc. (SNN) carry a correlation of 0.54, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BUD and SNN?
On 3 years of weekly data the BUD/SNN correlation comes out at 0.54, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.34 versus 0.54 over 3 years. The 5-year figure is 0.52, and annualized covariance runs at 379.3 %².
In BUD's tracked universe of 15 assets, SNN sits right near the top at #2. The last year tells two different stories: BUD led by 47.8 percentage points, +27.8% for BUD against -20.0% for SNN.
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.
BUD vs SNN: side by side
| BUD (Anheuser-Busch Inbev SA Sponsored ADR (Belgium)) | SNN (Smith & Nephew SNATS, Inc.) | |
|---|---|---|
| 1-year return | +27.8% | -20.0% |
| 5-year return | +39.0% | -13.6% |
| Volatility (ann.) | 26.7% | 26.3% |
| Beta vs S&P 500 | 0.38 | 0.60 |
| Max drawdown (3Y) | -31.5% | -24.0% |
| Market cap | $155.8B | $12.2B |
| P/E (trailing) | 16.9 | 20.0 |
| Dividend yield | 1.50% | 1.35% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BUD | SNN |
|---|---|---|
| 2022 | +0.1% | -20.2% |
| 2023 | +9.0% | +4.4% |
| 2024 | -21.4% | -7.3% |
| 2025 | +30.1% | +36.8% |
| 2026 | +25.4% | -9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BUD and SNN good diversifiers for each other?
Only partially. A correlation of 0.54 means BUD and SNN 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 BUD and SNN?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.34 over the last year and 0.52 over 5 years.
Is SNN a good diversifier for BUD?
Only partially. A correlation of 0.54 means BUD and SNN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.54 mean?
A reading of 0.54 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/bud-vs-snn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bud-vs-snn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BUD correlations · SNN correlations
