DXCM vs MCO: Correlation
How closely do Dexcom (DXCM) and Moody's Corporation (MCO) trade together? Their weekly returns over three years give a correlation of 0.36, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DXCM and MCO?
Across a 3-year window, the weekly returns of DXCM and MCO correlate at 0.36, moderate. Recent behaviour matches the longer record: 0.36 over 1 year against 0.36 over 3. Stretching to 5 years gives 0.42, with an annualized covariance of 430.5 %².
Among the 28 assets we track against DXCM, MCO ranks #12 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months DXCM outperformed by 16.2 percentage points (+16.9% for DXCM against +0.7% for MCO). The relationship is regime-dependent: the rolling one-year correlation swung between 0.09 and 0.64 over the past three years, so this pair behaves very differently depending on the market environment. One caveat on sizing: DXCM is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 MCO: side by side
| DXCM (Dexcom) | MCO (Moody's Corporation) | |
|---|---|---|
| 1-year return | +16.9% | +0.7% |
| 5-year return | -31.5% | +39.4% |
| Volatility (ann.) | 46.7% | 25.8% |
| Beta vs S&P 500 | 1.02 | 1.08 |
| Max drawdown (3Y) | -61.0% | -24.7% |
| Market cap | $33.7B | $88.2B |
| P/E (trailing) | 35.2 | 32.7 |
| Dividend yield | 0.00% | 0.77% |
| Sector / category | Health Care | Financials |
Year-by-year returns
| Year | DXCM | MCO |
|---|---|---|
| 2022 | -15.6% | -28.0% |
| 2023 | +9.6% | +41.5% |
| 2024 | -37.3% | +22.2% |
| 2025 | -14.7% | +8.7% |
| 2026 | +34.5% | +0.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DXCM and MCO good diversifiers for each other?
Reasonably. At 0.36, DXCM and MCO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between DXCM and MCO?
The DXCM/MCO correlation stands at 0.36 on a 3-year window (1 year: 0.36, 5 years: 0.42), computed from weekly returns as of 2026-08-27.
Is MCO a good diversifier for DXCM?
Reasonably. At 0.36, DXCM and MCO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 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/dxcm-vs-mco.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dxcm-vs-mco/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DXCM correlations · MCO correlations
