MDT vs SNN: Correlation
Medtronic (MDT) and Smith & Nephew SNATS, Inc. (SNN) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDT and SNN?
Across a 3-year window, the weekly returns of MDT and SNN correlate at 0.47, moderate. Recent behaviour matches the longer record: 0.38 over 1 year against 0.47 over 3. Stretching to 5 years gives 0.51, with an annualized covariance of 261.5 %².
Among the 34 assets we track against MDT, SNN ranks #11 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MDT ahead by 20.9 points (+0.9% versus -20.0%).
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 SNN: side by side
| MDT (Medtronic) | SNN (Smith & Nephew SNATS, Inc.) | |
|---|---|---|
| 1-year return | +0.9% | -20.0% |
| 5-year return | -21.4% | -13.6% |
| Volatility (ann.) | 21.0% | 26.3% |
| Beta vs S&P 500 | 0.37 | 0.60 |
| Max drawdown (3Y) | -28.9% | -24.0% |
| Market cap | $115.2B | $12.2B |
| P/E (trailing) | 24.1 | 20.0 |
| Dividend yield | 3.09% | 1.35% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | MDT | SNN |
|---|---|---|
| 2022 | -22.6% | -20.2% |
| 2023 | +9.6% | +4.4% |
| 2024 | +0.3% | -7.3% |
| 2025 | +24.0% | +36.8% |
| 2026 | -4.7% | -9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDT and SNN good diversifiers for each other?
Reasonably. At 0.47, MDT and SNN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MDT and SNN?
As of 2026-08-27, the correlation of weekly returns between MDT and SNN is 0.47 over 3 years, 0.38 over 1 year and 0.51 over 5 years.
Is SNN a good diversifier for MDT?
Reasonably. At 0.47, MDT and SNN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 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-snn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mdt-vs-snn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MDT correlations · SNN correlations
