MDT vs SEB: Correlation
Measured on weekly returns over the past three years, Medtronic (MDT) and Seaboard Corporation (SEB) carry a correlation of 0.33, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDT and SEB?
Across a 3-year window, the weekly returns of MDT and SEB correlate at 0.33, moderate. Recent behaviour matches the longer record: 0.38 over 1 year against 0.33 over 3. Stretching to 5 years gives 0.29, with an annualized covariance of 223.8 %².
Within MDT's tracked universe of 34 assets, SEB comes in at #22 by 3-year correlation. Their 12-month results are close: +0.9% for MDT against +4.8% for SEB. Risk is not evenly split, since SEB carries 1.6 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.
MDT vs SEB: side by side
| MDT (Medtronic) | SEB (Seaboard Corporation) | |
|---|---|---|
| 1-year return | +0.9% | +4.8% |
| 5-year return | -21.4% | -4.5% |
| Volatility (ann.) | 21.0% | 32.8% |
| Beta vs S&P 500 | 0.37 | -0.07 |
| Max drawdown (3Y) | -28.9% | -37.7% |
| Market cap | $115.2B | $3.8B |
| P/E (trailing) | 24.1 | 6.0 |
| Dividend yield | 3.09% | 0.22% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | MDT | SEB |
|---|---|---|
| 2022 | -22.6% | -3.8% |
| 2023 | +9.6% | -5.2% |
| 2024 | +0.3% | -31.7% |
| 2025 | +24.0% | +83.5% |
| 2026 | -4.7% | -11.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDT and SEB good diversifiers for each other?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MDT and SEB?
Using weekly returns as of 2026-08-27: 0.33 over 3 years, with 0.38 over the last year and 0.29 over 5 years.
Is SEB a good diversifier for MDT?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.33 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-seb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mdt-vs-seb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MDT correlations · SEB correlations
