DHR vs MXCT: Correlation
How closely do Danaher Corporation (DHR) and MaxCyte, Inc. (MXCT) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DHR and MXCT?
Across a 3-year window, the weekly returns of DHR and MXCT correlate at 0.38, moderate. The relationship has been stable: the 1-year correlation (0.38) sits close to the 3-year figure. Stretching to 5 years gives 0.41, with an annualized covariance of 711.9 %².
Within DHR's tracked universe of 49 assets, MXCT comes in at #35 by 3-year correlation. On 12-month performance DHR holds a 14.6-point edge, +6.0% against -8.6%. Note the risk asymmetry: MXCT runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 MXCT: side by side
| DHR (Danaher Corporation) | MXCT (MaxCyte, Inc.) | |
|---|---|---|
| 1-year return | +6.0% | -8.6% |
| 5-year return | -23.8% | -91.7% |
| Volatility (ann.) | 29.5% | 63.0% |
| Beta vs S&P 500 | 0.82 | 1.35 |
| Max drawdown (3Y) | -41.7% | -87.4% |
| Market cap | $151.6B | $0.1B |
| P/E (trailing) | 38.4 | – |
| Dividend yield | 0.67% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | DHR | MXCT |
|---|---|---|
| 2022 | -19.0% | -46.4% |
| 2023 | -1.2% | -13.9% |
| 2024 | -0.3% | -11.5% |
| 2025 | +0.4% | -62.7% |
| 2026 | -5.4% | -17.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DHR and MXCT good diversifiers for each other?
Reasonably. At 0.38, DHR and MXCT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between DHR and MXCT?
As of 2026-08-27, the correlation of weekly returns between DHR and MXCT is 0.38 over 3 years, 0.38 over 1 year and 0.41 over 5 years.
Is MXCT a good diversifier for DHR?
Reasonably. At 0.38, DHR and MXCT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.38 mean?
A reading of 0.38 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-mxct.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dhr-vs-mxct/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DHR correlations · MXCT correlations
