GRX vs MDT: Correlation
Measured on weekly returns over the past three years, The Gabelli Healthcare & Wellness Trust (GRX) and Medtronic (MDT) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRX and MDT?
Over the past 3 years, GRX and MDT moved with a correlation of 0.51, which is moderate. Little has changed lately, as the 1-year reading of 0.45 lands near the 3-year figure. Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 160.3 %².
Among the 26 assets we track against GRX, MDT ranks #9 by 3-year correlation. On 12-month performance GRX holds a 13.4-point edge, +14.3% against +0.9%.
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.
GRX vs MDT: side by side
| GRX (The Gabelli Healthcare & Wellness Trust) | MDT (Medtronic) | |
|---|---|---|
| 1-year return | +14.3% | +0.9% |
| 5-year return | +1.5% | -21.4% |
| Volatility (ann.) | 15.1% | 21.0% |
| Beta vs S&P 500 | 0.46 | 0.37 |
| Max drawdown (3Y) | -17.9% | -28.9% |
| Market cap | – | $115.2B |
| P/E (trailing) | 67.0 | 24.1 |
| Dividend yield | 0.00% | 3.09% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | GRX | MDT |
|---|---|---|
| 2022 | -20.0% | -22.6% |
| 2023 | -3.3% | +9.6% |
| 2024 | +9.6% | +0.3% |
| 2025 | +7.0% | +24.0% |
| 2026 | +8.3% | -4.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRX and MDT good diversifiers for each other?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between GRX and MDT?
As of 2026-08-27, the correlation of weekly returns between GRX and MDT is 0.51 over 3 years, 0.45 over 1 year and 0.51 over 5 years.
Is MDT a good diversifier for GRX?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.51 mean?
A reading of 0.51 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/grx-vs-mdt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/grx-vs-mdt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GRX correlations · MDT correlations
