GRX vs ZTS: Correlation
How closely do The Gabelli Healthcare & Wellness Trust (GRX) and Zoetis (ZTS) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRX and ZTS?
Over the past 3 years, GRX and ZTS moved with a correlation of 0.43, which is moderate. Little has changed lately, as the 1-year reading of 0.37 lands near the 3-year figure. Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 197.1 %².
Within GRX's tracked universe of 26 assets, ZTS comes in at #18 by 3-year correlation. The last year tells two different stories: GRX led by 65.1 percentage points, +14.3% for GRX against -50.8% for ZTS. Note the risk asymmetry: ZTS runs 2.0 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.
GRX vs ZTS: side by side
| GRX (The Gabelli Healthcare & Wellness Trust) | ZTS (Zoetis) | |
|---|---|---|
| 1-year return | +14.3% | -50.8% |
| 5-year return | +1.5% | -61.5% |
| Volatility (ann.) | 15.1% | 30.1% |
| Beta vs S&P 500 | 0.46 | 0.51 |
| Max drawdown (3Y) | -17.9% | -63.0% |
| Market cap | – | $31.0B |
| P/E (trailing) | 67.0 | 12.7 |
| Dividend yield | 0.00% | 2.66% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | GRX | ZTS |
|---|---|---|
| 2022 | -20.0% | -39.5% |
| 2023 | -3.3% | +35.9% |
| 2024 | +9.6% | -16.6% |
| 2025 | +7.0% | -21.8% |
| 2026 | +8.3% | -39.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRX and ZTS good diversifiers for each other?
Reasonably. At 0.43, GRX and ZTS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GRX and ZTS?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.37 over the last year and 0.48 over 5 years.
Is ZTS a good diversifier for GRX?
Reasonably. At 0.43, GRX and ZTS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.43 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-zts.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/grx-vs-zts/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GRX correlations · ZTS correlations
