DHR vs PPCB: Correlation
Danaher Corporation (DHR) and Propanc Biopharma, Inc. (PPCB) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DHR and PPCB?
On 3 years of weekly data the DHR/PPCB correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.09) than the 3-year average (-0.19). The 5-year figure is -0.14, and annualized covariance runs at -5266128.0 %².
Among the 49 assets we track against DHR, PPCB ranks #43 by 3-year correlation. The last year tells two different stories: DHR led by 103.0 percentage points, +6.0% for DHR against -97.0% for PPCB. Note the risk asymmetry: PPCB runs 32616.7 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 PPCB: side by side
| DHR (Danaher Corporation) | PPCB (Propanc Biopharma, Inc.) | |
|---|---|---|
| 1-year return | +6.0% | -97.0% |
| 5-year return | -23.8% | -99.9% |
| Volatility (ann.) | 29.5% | 962193.8% |
| Beta vs S&P 500 | 0.82 | -3746.20 |
| Max drawdown (3Y) | -41.7% | -99.8% |
| Market cap | $151.6B | – |
| P/E (trailing) | 38.4 | 0.0 |
| Dividend yield | 0.67% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | DHR | PPCB |
|---|---|---|
| 2022 | -19.0% | -98.6% |
| 2023 | -1.2% | -98.0% |
| 2024 | -0.3% | -98.3% |
| 2025 | +0.4% | +134050.0% |
| 2026 | -5.4% | -83.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DHR and PPCB good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between DHR and PPCB?
As of 2026-08-27, the correlation of weekly returns between DHR and PPCB is -0.19 over 3 years, 0.09 over 1 year and -0.14 over 5 years.
Is PPCB a good diversifier for DHR?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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-ppcb.json
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Related comparisons
Hubs: DHR correlations · PPCB correlations
