DXCM vs EW: Correlation
Dexcom (DXCM) and Edwards Lifesciences (EW) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DXCM and EW?
On 3 years of weekly data the DXCM/EW correlation comes out at 0.43, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.18 versus 0.43 over 3 years. The 5-year figure is 0.42, and annualized covariance runs at 629.2 %².
In DXCM's tracked universe of 28 assets, EW sits right near the top at #2. Over the last 12 months DXCM came out ahead by 5.7 percentage points (+16.9% against +11.2%). This link changes with the market regime, having swung between -0.01 and 0.70 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.
DXCM vs EW: side by side
| DXCM (Dexcom) | EW (Edwards Lifesciences) | |
|---|---|---|
| 1-year return | +16.9% | +11.2% |
| 5-year return | -31.5% | -23.8% |
| Volatility (ann.) | 46.7% | 31.6% |
| Beta vs S&P 500 | 1.02 | 0.81 |
| Max drawdown (3Y) | -61.0% | -37.5% |
| Market cap | $33.7B | $51.8B |
| P/E (trailing) | 35.2 | 54.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | DXCM | EW |
|---|---|---|
| 2022 | -15.6% | -42.4% |
| 2023 | +9.6% | +2.2% |
| 2024 | -37.3% | -2.9% |
| 2025 | -14.7% | +15.2% |
| 2026 | +34.5% | +5.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DXCM and EW good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between DXCM and EW?
As of 2026-08-27, the correlation of weekly returns between DXCM and EW is 0.43 over 3 years, 0.18 over 1 year and 0.42 over 5 years.
Is EW a good diversifier for DXCM?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 mean?
On the −1 to +1 scale, 0.43 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/dxcm-vs-ew.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dxcm-vs-ew/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DXCM correlations · EW correlations
