GRX vs MRK: Correlation
Measured on weekly returns over the past three years, The Gabelli Healthcare & Wellness Trust (GRX) and Merck & Co. (MRK) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRX and MRK?
Across a 3-year window, the weekly returns of GRX and MRK correlate at 0.49, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.63 versus 0.49 over 3 years. Stretching to 5 years gives 0.40, with an annualized covariance of 206.5 %².
By 3-year correlation, MRK places #10 of the 26 assets tracked against GRX. The last year tells two different stories: MRK led by 69.5 percentage points, +14.3% for GRX against +83.8% for MRK. One caveat on sizing: MRK is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 MRK: side by side
| GRX (The Gabelli Healthcare & Wellness Trust) | MRK (Merck & Co.) | |
|---|---|---|
| 1-year return | +14.3% | +83.8% |
| 5-year return | +1.5% | +128.5% |
| Volatility (ann.) | 15.1% | 27.9% |
| Beta vs S&P 500 | 0.46 | 0.28 |
| Max drawdown (3Y) | -17.9% | -43.4% |
| Market cap | – | $368.9B |
| P/E (trailing) | 67.0 | 121.6 |
| Dividend yield | 0.00% | 2.17% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | GRX | MRK |
|---|---|---|
| 2022 | -20.0% | +49.4% |
| 2023 | -3.3% | +1.0% |
| 2024 | +9.6% | -6.3% |
| 2025 | +7.0% | +9.8% |
| 2026 | +8.3% | +44.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRX and MRK good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GRX and MRK?
As of 2026-08-27, the correlation of weekly returns between GRX and MRK is 0.49 over 3 years, 0.63 over 1 year and 0.40 over 5 years.
Is MRK a good diversifier for GRX?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.49 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/grx-vs-mrk.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/grx-vs-mrk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GRX correlations · MRK correlations
