LH vs MCK: Correlation
Measured on weekly returns over the past three years, Labcorp (LH) and McKesson Corporation (MCK) carry a correlation of 0.33, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LH and MCK?
Over the past 3 years, LH and MCK moved with a correlation of 0.33, which is moderate. Recent behaviour matches the longer record: 0.34 over 1 year against 0.33 over 3. Over 5 years the correlation is 0.32, and the annualized covariance of weekly returns is 177.1 %².
Among the 34 assets we track against LH, MCK ranks #22 by 3-year correlation. The trailing year gives MCK the advantage: +21.8% versus +30.8%, a 9.0-point spread. On a rolling one-year basis the correlation drifted between 0.07 and 0.51, a moderate band.
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.
LH vs MCK: side by side
| LH (Labcorp) | MCK (McKesson Corporation) | |
|---|---|---|
| 1-year return | +21.8% | +30.8% |
| 5-year return | +36.0% | +354.8% |
| Volatility (ann.) | 21.4% | 25.1% |
| Beta vs S&P 500 | 0.33 | 0.16 |
| Max drawdown (3Y) | -17.4% | -27.2% |
| Market cap | $27.3B | $103.8B |
| P/E (trailing) | 27.8 | 24.0 |
| Dividend yield | 0.86% | 0.37% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | LH | MCK |
|---|---|---|
| 2022 | -24.4% | +51.8% |
| 2023 | +13.8% | +24.1% |
| 2024 | +2.2% | +23.7% |
| 2025 | +10.6% | +44.5% |
| 2026 | +34.8% | +8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LH and MCK good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between LH and MCK?
The LH/MCK correlation stands at 0.33 on a 3-year window (1 year: 0.34, 5 years: 0.32), computed from weekly returns as of 2026-08-27.
Is MCK a good diversifier for LH?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.33 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/lh-vs-mck.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/lh-vs-mck/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LH correlations · MCK correlations
