MDT vs SYK: Correlation
Medtronic (MDT) and Stryker Corporation (SYK) 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 SYK?
On 3 years of weekly data the MDT/SYK correlation comes out at 0.51, moderate. Recent behaviour matches the longer record: 0.43 over 1 year against 0.51 over 3. The 5-year figure is 0.58, and annualized covariance runs at 228.3 %².
Within MDT's tracked universe of 34 assets, SYK comes in at #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months MDT outperformed by 18.1 percentage points (+0.9% for MDT against -17.2% for SYK). On a rolling one-year basis the correlation drifted between 0.41 and 0.68, a moderate band.
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 SYK: side by side
| MDT (Medtronic) | SYK (Stryker Corporation) | |
|---|---|---|
| 1-year return | +0.9% | -17.2% |
| 5-year return | -21.4% | +23.8% |
| Volatility (ann.) | 21.0% | 21.5% |
| Beta vs S&P 500 | 0.37 | 0.61 |
| Max drawdown (3Y) | -28.9% | -29.4% |
| Market cap | $115.2B | $123.6B |
| P/E (trailing) | 24.1 | 34.1 |
| Dividend yield | 3.09% | 1.06% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | MDT | SYK |
|---|---|---|
| 2022 | -22.6% | -7.4% |
| 2023 | +9.6% | +23.8% |
| 2024 | +0.3% | +21.3% |
| 2025 | +24.0% | -1.5% |
| 2026 | -4.7% | -7.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDT and SYK good diversifiers for each other?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between MDT and SYK?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.43 over the last year and 0.58 over 5 years.
Is SYK a good diversifier for MDT?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.51 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-syk.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mdt-vs-syk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MDT correlations · SYK correlations
