MDT vs SOC: Correlation
How closely do Medtronic (MDT) and Sable Offshore Corp. (SOC) trade together? Their weekly returns over three years give a correlation of -0.17, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDT and SOC?
Across a 3-year window, the weekly returns of MDT and SOC correlate at -0.17, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.40) than the 3-year average (-0.17). Stretching to 5 years gives -0.13, with an annualized covariance of -371.3 %².
By 3-year correlation, SOC places #28 of the 34 assets tracked against MDT. Their recent paths diverged sharply: over the last 12 months MDT outperformed by 84.5 percentage points (+0.9% for MDT against -83.6% for SOC). Note the risk asymmetry: SOC runs 4.8 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 SOC: side by side
| MDT (Medtronic) | SOC (Sable Offshore Corp.) | |
|---|---|---|
| 1-year return | +0.9% | -83.6% |
| 5-year return | -21.4% | -51.7% |
| Volatility (ann.) | 21.0% | 101.7% |
| Beta vs S&P 500 | 0.37 | 0.03 |
| Max drawdown (3Y) | -28.9% | -90.7% |
| Market cap | $115.2B | $0.9B |
| P/E (trailing) | 24.1 | – |
| Dividend yield | 3.09% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | MDT | SOC |
|---|---|---|
| 2022 | -22.6% | +3.4% |
| 2023 | +9.6% | +13.3% |
| 2024 | +0.3% | +101.1% |
| 2025 | +24.0% | -60.6% |
| 2026 | -4.7% | -48.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDT and SOC good diversifiers for each other?
Yes. With a correlation of -0.17, MDT and SOC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MDT and SOC?
Using weekly returns as of 2026-08-27: -0.17 over 3 years, with -0.40 over the last year and -0.13 over 5 years.
Is SOC a good diversifier for MDT?
Yes. With a correlation of -0.17, MDT and SOC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.17 mean?
A reading of -0.17 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-soc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mdt-vs-soc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MDT correlations · SOC correlations
