GEHC vs SYK: Correlation
Measured on weekly returns over the past three years, GE HealthCare (GEHC) and Stryker Corporation (SYK) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GEHC and SYK?
On 3 years of weekly data the GEHC/SYK correlation comes out at 0.47, moderate. Recent behaviour matches the longer record: 0.54 over 1 year against 0.47 over 3. The 5-year figure is 0.45, and annualized covariance runs at 325.9 %².
Among the 52 assets we track against GEHC, SYK ranks #27 by 3-year correlation. Correlation aside, the last 12 months split them widely, with GEHC ahead by 15.0 points (-2.2% versus -17.2%). This link changes with the market regime, having swung between 0.15 and 0.76 on a rolling one-year basis. Note the risk asymmetry: GEHC 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.
GEHC vs SYK: side by side
| GEHC (GE HealthCare) | SYK (Stryker Corporation) | |
|---|---|---|
| 1-year return | -2.2% | -17.2% |
| 5-year return | n/a | +23.8% |
| Volatility (ann.) | 32.4% | 21.5% |
| Beta vs S&P 500 | 1.22 | 0.61 |
| Max drawdown (3Y) | -37.4% | -29.4% |
| Market cap | $32.7B | $123.6B |
| P/E (trailing) | 16.9 | 34.1 |
| Dividend yield | 0.19% | 1.06% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | GEHC | SYK |
|---|---|---|
| 2022 | – | -7.4% |
| 2023 | +32.6% | +23.8% |
| 2024 | +1.3% | +21.3% |
| 2025 | +5.1% | -1.5% |
| 2026 | -11.5% | -7.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GEHC and SYK good diversifiers for each other?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GEHC and SYK?
The GEHC/SYK correlation stands at 0.47 on a 3-year window (1 year: 0.54, 5 years: 0.45), computed from weekly returns as of 2026-08-27.
Is SYK a good diversifier for GEHC?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.47 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/gehc-vs-syk.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gehc-vs-syk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GEHC correlations · SYK correlations
