MDT vs RMD: Correlation
Measured on weekly returns over the past three years, Medtronic (MDT) and ResMed (RMD) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDT and RMD?
Across a 3-year window, the weekly returns of MDT and RMD correlate at 0.45, moderate. The past 12 months show a tighter link (0.57) than the 3-year average (0.45). Stretching to 5 years gives 0.48, with an annualized covariance of 294.6 %².
Among the 34 assets we track against MDT, RMD ranks #17 by 3-year correlation. The last year tells two different stories: MDT led by 16.4 percentage points, +0.9% for MDT against -15.5% for RMD. On a rolling one-year basis the correlation drifted between 0.28 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.
MDT vs RMD: side by side
| MDT (Medtronic) | RMD (ResMed) | |
|---|---|---|
| 1-year return | +0.9% | -15.5% |
| 5-year return | -21.4% | -14.6% |
| Volatility (ann.) | 21.0% | 31.2% |
| Beta vs S&P 500 | 0.37 | 0.79 |
| Max drawdown (3Y) | -28.9% | -37.3% |
| Market cap | $115.2B | $34.0B |
| P/E (trailing) | 24.1 | 22.6 |
| Dividend yield | 3.09% | 1.02% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | MDT | RMD |
|---|---|---|
| 2022 | -22.6% | -19.5% |
| 2023 | +9.6% | -16.5% |
| 2024 | +0.3% | +34.2% |
| 2025 | +24.0% | +6.3% |
| 2026 | -4.7% | -1.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDT and RMD good diversifiers for each other?
Reasonably. At 0.45, MDT and RMD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MDT and RMD?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.57 over the last year and 0.48 over 5 years.
Is RMD a good diversifier for MDT?
Reasonably. At 0.45, MDT and RMD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 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/mdt-vs-rmd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mdt-vs-rmd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MDT correlations · RMD correlations
