JCI vs MCK: Correlation
How closely do Johnson Controls (JCI) and McKesson Corporation (MCK) trade together? Their weekly returns over three years give a correlation of 0.35, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JCI and MCK?
Across a 3-year window, the weekly returns of JCI and MCK correlate at 0.35, moderate. The past 12 months show a tighter link (0.49) than the 3-year average (0.35). Stretching to 5 years gives 0.30, with an annualized covariance of 244.7 %².
Within JCI's tracked universe of 32 assets, MCK comes in at #22 by 3-year correlation. Their 12-month results are close: +30.9% for JCI against +30.8% for MCK. This link changes with the market regime, having swung between -0.09 and 0.54 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.
JCI vs MCK: side by side
| JCI (Johnson Controls) | MCK (McKesson Corporation) | |
|---|---|---|
| 1-year return | +30.9% | +30.8% |
| 5-year return | +108.2% | +354.8% |
| Volatility (ann.) | 28.1% | 25.1% |
| Beta vs S&P 500 | 0.98 | 0.16 |
| Max drawdown (3Y) | -21.1% | -27.2% |
| Market cap | $86.1B | $103.8B |
| P/E (trailing) | 40.1 | 24.0 |
| Dividend yield | 1.11% | 0.37% |
| Sector / category | Industrials | Health Care |
Year-by-year returns
| Year | JCI | MCK |
|---|---|---|
| 2022 | -19.3% | +51.8% |
| 2023 | -7.6% | +24.1% |
| 2024 | +39.8% | +23.7% |
| 2025 | +53.0% | +44.5% |
| 2026 | +19.5% | +8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JCI and MCK good diversifiers for each other?
Reasonably. At 0.35, JCI and MCK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between JCI and MCK?
As of 2026-08-27, the correlation of weekly returns between JCI and MCK is 0.35 over 3 years, 0.49 over 1 year and 0.30 over 5 years.
Is MCK a good diversifier for JCI?
Reasonably. At 0.35, JCI and MCK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.35 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/jci-vs-mck.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/jci-vs-mck/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: JCI correlations · MCK correlations
