DGX vs LH: Correlation
Quest Diagnostics (DGX) and Labcorp (LH) show a strong relationship: their 3-year correlation of weekly returns is 0.68.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGX and LH?
Across a 3-year window, the weekly returns of DGX and LH correlate at 0.68, strong. The link has tightened recently: the 1-year correlation (0.81) runs above the 3-year figure (0.68). Stretching to 5 years gives 0.71, with an annualized covariance of 277.0 %².
LH is one of the assets that tracks DGX most closely: it ranks #1 out of the 32 assets we track against DGX. The last year tells two different stories: DGX led by 16.7 percentage points, +38.5% for DGX against +21.8% for LH. The rolling one-year correlation moved between 0.44 and 0.80 over the past three years, a moderate range.
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.
DGX vs LH: side by side
| DGX (Quest Diagnostics) | LH (Labcorp) | |
|---|---|---|
| 1-year return | +38.5% | +21.8% |
| 5-year return | +78.8% | +36.0% |
| Volatility (ann.) | 19.1% | 21.4% |
| Beta vs S&P 500 | 0.09 | 0.33 |
| Max drawdown (3Y) | -12.4% | -17.4% |
| Market cap | $27.0B | $27.3B |
| P/E (trailing) | 26.0 | 27.8 |
| Dividend yield | 1.36% | 0.86% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | DGX | LH |
|---|---|---|
| 2022 | -7.8% | -24.4% |
| 2023 | -10.1% | +13.8% |
| 2024 | +11.8% | +2.2% |
| 2025 | +17.2% | +10.6% |
| 2026 | +42.8% | +34.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGX and LH good diversifiers for each other?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DGX and LH?
The DGX/LH correlation stands at 0.68 on a 3-year window (1 year: 0.81, 5 years: 0.71), computed from weekly returns as of 2026-08-27.
Is LH a good diversifier for DGX?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.68 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dgx-vs-lh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dgx-vs-lh/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DGX correlations · LH correlations
