EW vs SYK: Correlation
How closely do Edwards Lifesciences (EW) and Stryker Corporation (SYK) trade together? Their weekly returns over three years give a correlation of 0.34, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EW and SYK?
Over the past 3 years, EW and SYK moved with a correlation of 0.34, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.21 versus 0.34 over 3 years. Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 233.4 %².
By 3-year correlation, SYK places #19 of the 30 assets tracked against EW. Correlation aside, the last 12 months split them widely, with EW ahead by 28.4 points (+11.2% versus -17.2%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.16 to 0.68.
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.
EW vs SYK: side by side
| EW (Edwards Lifesciences) | SYK (Stryker Corporation) | |
|---|---|---|
| 1-year return | +11.2% | -17.2% |
| 5-year return | -23.8% | +23.8% |
| Volatility (ann.) | 31.6% | 21.5% |
| Beta vs S&P 500 | 0.81 | 0.61 |
| Max drawdown (3Y) | -37.5% | -29.4% |
| Market cap | $51.8B | $123.6B |
| P/E (trailing) | 54.2 | 34.1 |
| Dividend yield | 0.00% | 1.06% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | EW | SYK |
|---|---|---|
| 2022 | -42.4% | -7.4% |
| 2023 | +2.2% | +23.8% |
| 2024 | -2.9% | +21.3% |
| 2025 | +15.2% | -1.5% |
| 2026 | +5.5% | -7.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EW and SYK good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between EW and SYK?
Using weekly returns as of 2026-08-27: 0.34 over 3 years, with 0.21 over the last year and 0.49 over 5 years.
Is SYK a good diversifier for EW?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.34 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.
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Related comparisons
Hubs: EW correlations · SYK correlations
