DHR vs MRK: Correlation
How closely do Danaher Corporation (DHR) and Merck & Co. (MRK) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DHR and MRK?
Over the past 3 years, DHR and MRK moved with a correlation of 0.52, which is moderate. Little has changed lately, as the 1-year reading of 0.62 lands near the 3-year figure. Over 5 years the correlation is 0.34, and the annualized covariance of weekly returns is 432.6 %².
Within DHR's tracked universe of 49 assets, MRK comes in at #19 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months MRK outperformed by 77.8 percentage points (+6.0% for DHR against +83.8% for MRK). This link changes with the market regime, having swung between -0.19 and 0.71 on a rolling one-year basis.
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 MRK: side by side
| DHR (Danaher Corporation) | MRK (Merck & Co.) | |
|---|---|---|
| 1-year return | +6.0% | +83.8% |
| 5-year return | -23.8% | +128.5% |
| Volatility (ann.) | 29.5% | 27.9% |
| Beta vs S&P 500 | 0.82 | 0.28 |
| Max drawdown (3Y) | -41.7% | -43.4% |
| Market cap | $151.6B | $368.9B |
| P/E (trailing) | 38.4 | 121.6 |
| Dividend yield | 0.67% | 2.17% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | DHR | MRK |
|---|---|---|
| 2022 | -19.0% | +49.4% |
| 2023 | -1.2% | +1.0% |
| 2024 | -0.3% | -6.3% |
| 2025 | +0.4% | +9.8% |
| 2026 | -5.4% | +44.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DHR and MRK good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DHR and MRK?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.62 over the last year and 0.34 over 5 years.
Is MRK a good diversifier for DHR?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 mean?
On the −1 to +1 scale, 0.52 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/dhr-vs-mrk.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dhr-vs-mrk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DHR correlations · MRK correlations
