MDT vs RQI: Correlation
How closely do Medtronic (MDT) and Cohen & Steers Quality Income Realty Fund Inc (RQI) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDT and RQI?
On 3 years of weekly data the MDT/RQI correlation comes out at 0.46, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.16 versus 0.46 over 3 years. The 5-year figure is 0.45, and annualized covariance runs at 209.7 %².
Within MDT's tracked universe of 34 assets, RQI comes in at #15 by 3-year correlation. Over the last 12 months RQI came out ahead by 7.7 percentage points (+0.9% against +8.6%).
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 RQI: side by side
| MDT (Medtronic) | RQI (Cohen & Steers Quality Income Realty Fund Inc) | |
|---|---|---|
| 1-year return | +0.9% | +8.6% |
| 5-year return | -21.4% | +16.3% |
| Volatility (ann.) | 21.0% | 21.6% |
| Beta vs S&P 500 | 0.37 | 0.77 |
| Max drawdown (3Y) | -28.9% | -21.0% |
| Market cap | $115.2B | $1.7B |
| P/E (trailing) | 24.1 | 35.2 |
| Dividend yield | 3.09% | 7.74% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | MDT | RQI |
|---|---|---|
| 2022 | -22.6% | -31.1% |
| 2023 | +9.6% | +15.7% |
| 2024 | +0.3% | +8.0% |
| 2025 | +24.0% | +2.1% |
| 2026 | -4.7% | +14.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDT and RQI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MDT and RQI?
The MDT/RQI correlation stands at 0.46 on a 3-year window (1 year: 0.16, 5 years: 0.45), computed from weekly returns as of 2026-08-27.
Is RQI a good diversifier for MDT?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 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-rqi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mdt-vs-rqi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MDT correlations · RQI correlations
