LLY vs MRK: Correlation
Measured on weekly returns over the past three years, Lilly (Eli) (LLY) and Merck & Co. (MRK) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LLY and MRK?
Across a 3-year window, the weekly returns of LLY and MRK correlate at 0.42, moderate. The link has tightened recently: the 1-year correlation (0.62) runs above the 3-year figure (0.42). Stretching to 5 years gives 0.44, with an annualized covariance of 431.6 %².
Among the 29 assets we track against LLY, MRK ranks #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MRK ahead by 22.6 points (+61.2% versus +83.8%). On a rolling one-year basis the correlation drifted between 0.17 and 0.60, 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.
LLY vs MRK: side by side
| LLY (Lilly (Eli)) | MRK (Merck & Co.) | |
|---|---|---|
| 1-year return | +61.2% | +83.8% |
| 5-year return | +369.2% | +128.5% |
| Volatility (ann.) | 36.6% | 27.9% |
| Beta vs S&P 500 | 0.57 | 0.28 |
| Max drawdown (3Y) | -34.5% | -43.4% |
| Market cap | $1,048.8B | $368.9B |
| P/E (trailing) | 40.0 | 121.6 |
| Dividend yield | 0.54% | 2.17% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | LLY | MRK |
|---|---|---|
| 2022 | +34.3% | +49.4% |
| 2023 | +60.9% | +1.0% |
| 2024 | +33.3% | -6.3% |
| 2025 | +40.2% | +9.8% |
| 2026 | +10.0% | +44.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LLY and MRK good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between LLY and MRK?
As of 2026-08-27, the correlation of weekly returns between LLY and MRK is 0.42 over 3 years, 0.62 over 1 year and 0.44 over 5 years.
Is MRK a good diversifier for LLY?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 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/lly-vs-mrk.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lly-vs-mrk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LLY correlations · MRK correlations
