DHR vs VTRS: Correlation
How closely do Danaher Corporation (DHR) and Viatris (VTRS) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DHR and VTRS?
Across a 3-year window, the weekly returns of DHR and VTRS correlate at 0.41, moderate. Little has changed lately, as the 1-year reading of 0.34 lands near the 3-year figure. Stretching to 5 years gives 0.36, with an annualized covariance of 397.3 %².
Among the 49 assets we track against DHR, VTRS ranks #31 by 3-year correlation. The last year tells two different stories: VTRS led by 61.8 percentage points, +6.0% for DHR against +67.8% for VTRS. On a rolling one-year basis the correlation drifted between 0.24 and 0.63, a moderate band.
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 VTRS: side by side
| DHR (Danaher Corporation) | VTRS (Viatris) | |
|---|---|---|
| 1-year return | +6.0% | +67.8% |
| 5-year return | -23.8% | +44.6% |
| Volatility (ann.) | 29.5% | 32.8% |
| Beta vs S&P 500 | 0.82 | 0.79 |
| Max drawdown (3Y) | -41.7% | -45.0% |
| Market cap | $151.6B | $19.4B |
| P/E (trailing) | 38.4 | – |
| Dividend yield | 0.67% | 2.85% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | DHR | VTRS |
|---|---|---|
| 2022 | -19.0% | -14.3% |
| 2023 | -1.2% | +2.1% |
| 2024 | -0.3% | +19.7% |
| 2025 | +0.4% | +5.1% |
| 2026 | -5.4% | +38.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DHR and VTRS good diversifiers for each other?
Reasonably. At 0.41, DHR and VTRS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between DHR and VTRS?
Using weekly returns as of 2026-08-27: 0.41 over 3 years, with 0.34 over the last year and 0.36 over 5 years.
Is VTRS a good diversifier for DHR?
Reasonably. At 0.41, DHR and VTRS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 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-vtrs.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dhr-vs-vtrs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DHR correlations · VTRS correlations
