DXCM vs SYK: Correlation
Measured on weekly returns over the past three years, Dexcom (DXCM) and Stryker Corporation (SYK) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DXCM and SYK?
Over the past 3 years, DXCM and SYK moved with a correlation of 0.38, which is moderate. The relationship has been stable: the 1-year correlation (0.34) sits close to the 3-year figure. Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 385.0 %².
Among the 28 assets we track against DXCM, SYK ranks #6 by 3-year correlation. The last year tells two different stories: DXCM led by 34.1 percentage points, +16.9% for DXCM against -17.2% for SYK. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.19 to 0.74. Note the risk asymmetry: DXCM runs 2.2 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.
DXCM vs SYK: side by side
| DXCM (Dexcom) | SYK (Stryker Corporation) | |
|---|---|---|
| 1-year return | +16.9% | -17.2% |
| 5-year return | -31.5% | +23.8% |
| Volatility (ann.) | 46.7% | 21.5% |
| Beta vs S&P 500 | 1.02 | 0.61 |
| Max drawdown (3Y) | -61.0% | -29.4% |
| Market cap | $33.7B | $123.6B |
| P/E (trailing) | 35.2 | 34.1 |
| Dividend yield | 0.00% | 1.06% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | DXCM | SYK |
|---|---|---|
| 2022 | -15.6% | -7.4% |
| 2023 | +9.6% | +23.8% |
| 2024 | -37.3% | +21.3% |
| 2025 | -14.7% | -1.5% |
| 2026 | +34.5% | -7.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DXCM and SYK good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between DXCM and SYK?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.34 over the last year and 0.44 over 5 years.
Is SYK a good diversifier for DXCM?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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-syk.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dxcm-vs-syk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DXCM correlations · SYK correlations
