EQNR vs SYK: Correlation
How closely do Equinor ASA (EQNR) and Stryker Corporation (SYK) trade together? Their weekly returns over three years give a correlation of -0.18, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQNR and SYK?
Across a 3-year window, the weekly returns of EQNR and SYK correlate at -0.18, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.16) sits close to the 3-year figure. Stretching to 5 years gives -0.02, with an annualized covariance of -128.0 %².
Among the 79 assets we track against EQNR, SYK ranks #27 by 3-year correlation. Correlation aside, the last 12 months split them widely, with EQNR ahead by 94.4 points (+77.2% versus -17.2%). Note the risk asymmetry: EQNR runs 1.5 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.
EQNR vs SYK: side by side
| EQNR (Equinor ASA) | SYK (Stryker Corporation) | |
|---|---|---|
| 1-year return | +77.2% | -17.2% |
| 5-year return | +180.6% | +23.8% |
| Volatility (ann.) | 33.2% | 21.5% |
| Beta vs S&P 500 | -0.25 | 0.61 |
| Max drawdown (3Y) | -27.6% | -29.4% |
| Market cap | $98.6B | $123.6B |
| P/E (trailing) | 11.2 | 34.1 |
| Dividend yield | 3.73% | 1.06% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | EQNR | SYK |
|---|---|---|
| 2022 | +42.8% | -7.4% |
| 2023 | -0.8% | +23.8% |
| 2024 | -16.0% | +21.3% |
| 2025 | +6.1% | -1.5% |
| 2026 | +81.8% | -7.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQNR and SYK good diversifiers for each other?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between EQNR and SYK?
Using weekly returns as of 2026-08-27: -0.18 over 3 years, with -0.16 over the last year and -0.02 over 5 years.
Is SYK a good diversifier for EQNR?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 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/eqnr-vs-syk.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/eqnr-vs-syk/)
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Related comparisons
Hubs: EQNR correlations · SYK correlations
