DXCM vs PEN: Correlation
How closely do Dexcom (DXCM) and Penumbra, Inc. (PEN) trade together? Their weekly returns over three years give a correlation of 0.35, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DXCM and PEN?
Over the past 3 years, DXCM and PEN moved with a correlation of 0.35, which is moderate. Recent behaviour matches the longer record: 0.35 over 1 year against 0.35 over 3. Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 591.2 %².
By 3-year correlation, PEN places #14 of the 28 assets tracked against DXCM. Their 12-month results are close: +16.9% for DXCM against +20.3% for PEN.
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 PEN: side by side
| DXCM (Dexcom) | PEN (Penumbra, Inc.) | |
|---|---|---|
| 1-year return | +16.9% | +20.3% |
| 5-year return | -31.5% | +18.7% |
| Volatility (ann.) | 46.7% | 36.0% |
| Beta vs S&P 500 | 1.02 | 0.30 |
| Max drawdown (3Y) | -61.0% | -45.5% |
| Market cap | $33.7B | $12.6B |
| P/E (trailing) | 35.2 | 79.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | DXCM | PEN |
|---|---|---|
| 2022 | -15.6% | -22.6% |
| 2023 | +9.6% | +13.1% |
| 2024 | -37.3% | -5.6% |
| 2025 | -14.7% | +30.9% |
| 2026 | +34.5% | +3.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DXCM and PEN good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between DXCM and PEN?
Using weekly returns as of 2026-08-27: 0.35 over 3 years, with 0.35 over the last year and 0.43 over 5 years.
Is PEN a good diversifier for DXCM?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 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-pen.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dxcm-vs-pen/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DXCM correlations · PEN correlations
