MRK vs REGN: Correlation
Merck & Co. (MRK) and Regeneron Pharmaceuticals (REGN) show a moderate relationship: their 3-year correlation of weekly returns is 0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MRK and REGN?
Across a 3-year window, the weekly returns of MRK and REGN correlate at 0.39, moderate. The relationship has been stable: the 1-year correlation (0.32) sits close to the 3-year figure. Stretching to 5 years gives 0.31, with an annualized covariance of 346.9 %².
Within MRK's tracked universe of 34 assets, REGN comes in at #19 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MRK ahead by 45.5 points (+83.8% versus +38.3%). The relationship is regime-dependent: the rolling one-year correlation swung between 0.03 and 0.61 over the past three years, so this pair behaves very differently depending on the market environment.
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.
MRK vs REGN: side by side
| MRK (Merck & Co.) | REGN (Regeneron Pharmaceuticals) | |
|---|---|---|
| 1-year return | +83.8% | +38.3% |
| 5-year return | +128.5% | +20.4% |
| Volatility (ann.) | 27.9% | 31.8% |
| Beta vs S&P 500 | 0.28 | 0.61 |
| Max drawdown (3Y) | -43.4% | -59.7% |
| Market cap | $368.9B | $83.2B |
| P/E (trailing) | 121.6 | 20.2 |
| Dividend yield | 2.17% | 0.45% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | MRK | REGN |
|---|---|---|
| 2022 | +49.4% | +14.2% |
| 2023 | +1.0% | +21.7% |
| 2024 | -6.3% | -18.9% |
| 2025 | +9.8% | +9.0% |
| 2026 | +44.1% | +5.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MRK and REGN good diversifiers for each other?
Reasonably. At 0.39, MRK and REGN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MRK and REGN?
As of 2026-08-27, the correlation of weekly returns between MRK and REGN is 0.39 over 3 years, 0.32 over 1 year and 0.31 over 5 years.
Is REGN a good diversifier for MRK?
Reasonably. At 0.39, MRK and REGN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 mean?
On the −1 to +1 scale, 0.39 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mrk-vs-regn.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mrk-vs-regn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MRK correlations · REGN correlations
