LOMA vs MDT: Correlation
Loma Negra Compania Industrial Argentina Sociedad Anonima (LOMA) and Medtronic (MDT) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LOMA and MDT?
Across a 3-year window, the weekly returns of LOMA and MDT correlate at -0.19, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.24 over 1 year against -0.19 over 3. Stretching to 5 years gives -0.07, with an annualized covariance of -189.9 %².
Within LOMA's tracked universe of 16 assets, MDT comes in at #10 by 3-year correlation. Twelve-month performance is nearly a tie, at +3.0% for LOMA and +0.9% for MDT. Risk is not evenly split, since LOMA carries 2.2 times the volatility of the other side.
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.
LOMA vs MDT: side by side
| LOMA (Loma Negra Compania Industrial Argentina Sociedad Anonima) | MDT (Medtronic) | |
|---|---|---|
| 1-year return | +3.0% | +0.9% |
| 5-year return | +76.0% | -21.4% |
| Volatility (ann.) | 47.1% | 21.0% |
| Beta vs S&P 500 | 0.64 | 0.37 |
| Max drawdown (3Y) | -48.3% | -28.9% |
| Market cap | $1.1B | $115.2B |
| P/E (trailing) | 38.7 | 24.1 |
| Dividend yield | 0.00% | 3.09% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | LOMA | MDT |
|---|---|---|
| 2022 | +26.6% | -22.6% |
| 2023 | +21.0% | +9.6% |
| 2024 | +68.4% | +0.3% |
| 2025 | +8.5% | +24.0% |
| 2026 | -25.3% | -4.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LOMA and MDT good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between LOMA and MDT?
As of 2026-08-27, the correlation of weekly returns between LOMA and MDT is -0.19 over 3 years, -0.24 over 1 year and -0.07 over 5 years.
Is MDT a good diversifier for LOMA?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 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/loma-vs-mdt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/loma-vs-mdt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LOMA correlations · MDT correlations
