GEHC vs VTRS: Correlation
Measured on weekly returns over the past three years, GE HealthCare (GEHC) and Viatris (VTRS) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GEHC and VTRS?
Over the past 3 years, GEHC and VTRS moved with a correlation of 0.41, which is moderate. Little has changed lately, as the 1-year reading of 0.32 lands near the 3-year figure. Over 5 years the correlation is 0.34, and the annualized covariance of weekly returns is 431.0 %².
Within GEHC's tracked universe of 52 assets, VTRS comes in at #39 by 3-year correlation. The last year tells two different stories: VTRS led by 70.0 percentage points, -2.2% for GEHC against +67.8% for VTRS. This link changes with the market regime, having swung between 0.10 and 0.63 on a rolling one-year basis.
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 VTRS: side by side
| GEHC (GE HealthCare) | VTRS (Viatris) | |
|---|---|---|
| 1-year return | -2.2% | +67.8% |
| 5-year return | n/a | +44.6% |
| Volatility (ann.) | 32.4% | 32.8% |
| Beta vs S&P 500 | 1.22 | 0.79 |
| Max drawdown (3Y) | -37.4% | -45.0% |
| Market cap | $32.7B | $19.4B |
| P/E (trailing) | 16.9 | – |
| Dividend yield | 0.19% | 2.85% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | GEHC | VTRS |
|---|---|---|
| 2022 | – | -14.3% |
| 2023 | +32.6% | +2.1% |
| 2024 | +1.3% | +19.7% |
| 2025 | +5.1% | +5.1% |
| 2026 | -11.5% | +38.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GEHC and VTRS good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GEHC and VTRS?
The GEHC/VTRS correlation stands at 0.41 on a 3-year window (1 year: 0.32, 5 years: 0.34), computed from weekly returns as of 2026-08-27.
Is VTRS a good diversifier for GEHC?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.41 mean?
A reading of 0.41 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gehc-vs-vtrs.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gehc-vs-vtrs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GEHC correlations · VTRS correlations
