MDT vs SOLV: Correlation
Medtronic (MDT) and Solventum (SOLV) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDT and SOLV?
Across a 3-year window, the weekly returns of MDT and SOLV correlate at 0.51, moderate. Recent behaviour matches the longer record: 0.51 over 1 year against 0.51 over 3. Stretching to 5 years gives n/a, with an annualized covariance of 322.2 %².
In MDT's tracked universe of 34 assets, SOLV sits right near the top at #3. Correlation aside, the last 12 months split them widely, with SOLV ahead by 23.8 points (+0.9% versus +24.7%). Across three years, the rolling one-year figure varied moderately, from 0.45 to 0.72.
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 SOLV: side by side
| MDT (Medtronic) | SOLV (Solventum) | |
|---|---|---|
| 1-year return | +0.9% | +24.7% |
| 5-year return | -21.4% | n/a |
| Volatility (ann.) | 21.0% | 30.4% |
| Beta vs S&P 500 | 0.37 | 0.62 |
| Max drawdown (3Y) | -28.9% | -40.0% |
| Market cap | $115.2B | $15.5B |
| P/E (trailing) | 24.1 | 11.2 |
| Dividend yield | 3.09% | 0.00% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | MDT | SOLV |
|---|---|---|
| 2022 | -22.6% | – |
| 2023 | +9.6% | – |
| 2024 | +0.3% | – |
| 2025 | +24.0% | +20.0% |
| 2026 | -4.7% | +14.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDT and SOLV good diversifiers for each other?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MDT and SOLV?
The MDT/SOLV correlation stands at 0.51 on a 3-year window (1 year: 0.51, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SOLV a good diversifier for MDT?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.51 mean?
A reading of 0.51 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-solv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mdt-vs-solv/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MDT correlations · SOLV correlations
