DHR vs GEHC: Correlation
How closely do Danaher Corporation (DHR) and GE HealthCare (GEHC) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DHR and GEHC?
Across a 3-year window, the weekly returns of DHR and GEHC correlate at 0.55, moderate. The relationship has been stable: the 1-year correlation (0.56) sits close to the 3-year figure. Stretching to 5 years gives 0.54, with an annualized covariance of 526.0 %².
Within DHR's tracked universe of 49 assets, GEHC comes in at #18 by 3-year correlation. On 12-month performance DHR holds a 8.2-point edge, +6.0% against -2.2%. The rolling one-year correlation moved between 0.30 and 0.67 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.
DHR vs GEHC: side by side
| DHR (Danaher Corporation) | GEHC (GE HealthCare) | |
|---|---|---|
| 1-year return | +6.0% | -2.2% |
| 5-year return | -23.8% | n/a |
| Volatility (ann.) | 29.5% | 32.4% |
| Beta vs S&P 500 | 0.82 | 1.22 |
| Max drawdown (3Y) | -41.7% | -37.4% |
| Market cap | $151.6B | $32.7B |
| P/E (trailing) | 38.4 | 16.9 |
| Dividend yield | 0.67% | 0.19% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | DHR | GEHC |
|---|---|---|
| 2022 | -19.0% | – |
| 2023 | -1.2% | +32.6% |
| 2024 | -0.3% | +1.3% |
| 2025 | +0.4% | +5.1% |
| 2026 | -5.4% | -11.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DHR and GEHC good diversifiers for each other?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between DHR and GEHC?
The DHR/GEHC correlation stands at 0.55 on a 3-year window (1 year: 0.56, 5 years: 0.54), computed from weekly returns as of 2026-08-27.
Is GEHC a good diversifier for DHR?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.55 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/dhr-vs-gehc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dhr-vs-gehc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DHR correlations · GEHC correlations
