MEDP vs PM: Correlation
Measured on weekly returns over the past three years, Medpace Holdings, Inc. (MEDP) and Philip Morris International (PM) carry a correlation of -0.32, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MEDP and PM?
Across a 3-year window, the weekly returns of MEDP and PM correlate at -0.32, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.20) than the 3-year average (-0.32). Stretching to 5 years gives -0.06, with an annualized covariance of -344.0 %².
Out of 15 assets tracked against MEDP, PM lands near the bottom at #14. On 12-month performance MEDP holds a 9.0-point edge, +29.2% against +20.2%. Note the risk asymmetry: MEDP runs 2.0 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.
MEDP vs PM: side by side
| MEDP (Medpace Holdings, Inc.) | PM (Philip Morris International) | |
|---|---|---|
| 1-year return | +29.2% | +20.2% |
| 5-year return | +231.5% | +133.5% |
| Volatility (ann.) | 46.4% | 23.1% |
| Beta vs S&P 500 | 1.04 | -0.01 |
| Max drawdown (3Y) | -39.4% | -20.6% |
| Market cap | $17.1B | $296.9B |
| P/E (trailing) | 36.4 | 26.7 |
| Dividend yield | 0.00% | 3.03% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | MEDP | PM |
|---|---|---|
| 2022 | -2.4% | +12.3% |
| 2023 | +44.3% | -1.9% |
| 2024 | +8.4% | +34.3% |
| 2025 | +69.1% | +38.0% |
| 2026 | +8.9% | +20.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MEDP and PM good diversifiers for each other?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
FAQ
What is the correlation between MEDP and PM?
The MEDP/PM correlation stands at -0.32 on a 3-year window (1 year: -0.20, 5 years: -0.06), computed from weekly returns as of 2026-08-27.
Is PM a good diversifier for MEDP?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
What does a correlation of -0.32 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/medp-vs-pm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/medp-vs-pm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MEDP correlations · PM correlations
