MDT vs PODC: Correlation
How closely do Medtronic (MDT) and PodcastOne, Inc. (PODC) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDT and PODC?
On 3 years of weekly data the MDT/PODC correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.15) sits close to the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -358.9 %².
Among the 34 assets we track against MDT, PODC sits near the bottom by co-movement, at rank #32. The last year tells two different stories: PODC led by 68.5 percentage points, +0.9% for MDT against +69.4% for PODC. Note the risk asymmetry: PODC runs 3.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
MDT vs PODC: side by side
| MDT (Medtronic) | PODC (PodcastOne, Inc.) | |
|---|---|---|
| 1-year return | +0.9% | +69.4% |
| 5-year return | -21.4% | n/a |
| Volatility (ann.) | 21.0% | 79.0% |
| Beta vs S&P 500 | 0.37 | 0.70 |
| Max drawdown (3Y) | -28.9% | -74.5% |
| Market cap | $115.2B | $0.1B |
| P/E (trailing) | 24.1 | – |
| Dividend yield | 3.09% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | MDT | PODC |
|---|---|---|
| 2022 | -22.6% | – |
| 2023 | +9.6% | – |
| 2024 | +0.3% | +16.8% |
| 2025 | +24.0% | +14.4% |
| 2026 | -4.7% | +9.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDT and PODC good diversifiers for each other?
Yes. With a correlation of -0.22, MDT and PODC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MDT and PODC?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.15 over the last year and n/a over 5 years.
Is PODC a good diversifier for MDT?
Yes. With a correlation of -0.22, MDT and PODC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
A reading of -0.22 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mdt-vs-podc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mdt-vs-podc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MDT correlations · PODC correlations
