COO vs MDT: Correlation
Measured on weekly returns over the past three years, Cooper Companies (The) (COO) and Medtronic (MDT) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COO and MDT?
Across a 3-year window, the weekly returns of COO and MDT correlate at 0.49, moderate. The past 12 months show a tighter link (0.70) than the 3-year average (0.49). Stretching to 5 years gives 0.51, with an annualized covariance of 287.1 %².
Within COO's tracked universe of 38 assets, MDT comes in at #18 by 3-year correlation. The trailing year gives MDT the advantage: -4.3% versus +0.9%, a 5.2-point spread. On a rolling one-year basis the correlation drifted between 0.31 and 0.63, 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.
COO vs MDT: side by side
| COO (Cooper Companies (The)) | MDT (Medtronic) | |
|---|---|---|
| 1-year return | -4.3% | +0.9% |
| 5-year return | -36.8% | -21.4% |
| Volatility (ann.) | 27.7% | 21.0% |
| Beta vs S&P 500 | 0.69 | 0.37 |
| Max drawdown (3Y) | -47.0% | -28.9% |
| Market cap | – | $115.2B |
| P/E (trailing) | 61.7 | 24.1 |
| Dividend yield | 0.00% | 3.09% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | COO | MDT |
|---|---|---|
| 2022 | -21.1% | -22.6% |
| 2023 | +14.5% | +9.6% |
| 2024 | -2.8% | +0.3% |
| 2025 | -10.8% | +24.0% |
| 2026 | -13.4% | -4.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COO and MDT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between COO and MDT?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.70 over the last year and 0.51 over 5 years.
Is MDT a good diversifier for COO?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.49 mean?
On the −1 to +1 scale, 0.49 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/coo-vs-mdt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/coo-vs-mdt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: COO correlations · MDT correlations
