JNJ vs LH: Correlation
How closely do Johnson & Johnson (JNJ) and Labcorp (LH) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JNJ and LH?
Across a 3-year window, the weekly returns of JNJ and LH correlate at 0.47, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.63 versus 0.47 over 3 years. Stretching to 5 years gives 0.40, with an annualized covariance of 188.1 %².
By 3-year correlation, LH places #20 of the 48 assets tracked against JNJ. The last year tells two different stories: JNJ led by 31.9 percentage points, +53.7% for JNJ against +21.8% for LH. The relationship is regime-dependent: the rolling one-year correlation swung between 0.12 and 0.64 over the past three years, so this pair behaves very differently depending on the market environment.
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.
JNJ vs LH: side by side
| JNJ (Johnson & Johnson) | LH (Labcorp) | |
|---|---|---|
| 1-year return | +53.7% | +21.8% |
| 5-year return | +76.0% | +36.0% |
| Volatility (ann.) | 18.5% | 21.4% |
| Beta vs S&P 500 | 0.05 | 0.33 |
| Max drawdown (3Y) | -14.4% | -17.4% |
| Market cap | $640.5B | $27.3B |
| P/E (trailing) | 30.9 | 27.8 |
| Dividend yield | 1.94% | 0.86% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | JNJ | LH |
|---|---|---|
| 2022 | +6.0% | -24.4% |
| 2023 | -8.6% | +13.8% |
| 2024 | -4.8% | +2.2% |
| 2025 | +47.5% | +10.6% |
| 2026 | +30.5% | +34.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JNJ and LH good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between JNJ and LH?
The JNJ/LH correlation stands at 0.47 on a 3-year window (1 year: 0.63, 5 years: 0.40), computed from weekly returns as of 2026-08-27.
Is LH a good diversifier for JNJ?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 mean?
On the −1 to +1 scale, 0.47 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/jnj-vs-lh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jnj-vs-lh/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: JNJ correlations · LH correlations
