DHR vs IQV: Correlation
Measured on weekly returns over the past three years, Danaher Corporation (DHR) and IQVIA (IQV) carry a correlation of 0.63, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DHR and IQV?
On 3 years of weekly data the DHR/IQV correlation comes out at 0.63, strong. Little has changed lately, as the 1-year reading of 0.66 lands near the 3-year figure. The 5-year figure is 0.68, and annualized covariance runs at 702.6 %².
Among the 49 assets we track against DHR, IQV ranks #8 by 3-year correlation. The last year tells two different stories: IQV led by 33.0 percentage points, +6.0% for DHR against +39.0% for IQV. The rolling one-year correlation stayed in a tight band between 0.51 and 0.73 over the past three years, which points to a structural rather than episodic relationship.
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 IQV: side by side
| DHR (Danaher Corporation) | IQV (IQVIA) | |
|---|---|---|
| 1-year return | +6.0% | +39.0% |
| 5-year return | -23.8% | +0.3% |
| Volatility (ann.) | 29.5% | 37.9% |
| Beta vs S&P 500 | 0.82 | 0.93 |
| Max drawdown (3Y) | -41.7% | -47.1% |
| Market cap | $151.6B | $43.2B |
| P/E (trailing) | 38.4 | 32.6 |
| Dividend yield | 0.67% | 0.00% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | DHR | IQV |
|---|---|---|
| 2022 | -19.0% | -27.4% |
| 2023 | -1.2% | +12.9% |
| 2024 | -0.3% | -15.1% |
| 2025 | +0.4% | +14.7% |
| 2026 | -5.4% | +16.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DHR and IQV good diversifiers for each other?
Only partially. A correlation of 0.63 means DHR and IQV 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 DHR and IQV?
The DHR/IQV correlation stands at 0.63 on a 3-year window (1 year: 0.66, 5 years: 0.68), computed from weekly returns as of 2026-08-27.
Is IQV a good diversifier for DHR?
Only partially. A correlation of 0.63 means DHR and IQV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.63 mean?
A reading of 0.63 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/dhr-vs-iqv.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dhr-vs-iqv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DHR correlations · IQV correlations
