PHG vs TMDX: Correlation
Koninklijke Philips N.V. NY Registry Shares (PHG) and TransMedics Group, Inc. (TMDX) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PHG and TMDX?
Across a 3-year window, the weekly returns of PHG and TMDX correlate at 0.40, moderate. The link has loosened recently: the 1-year correlation (0.29) runs below the 3-year figure (0.40). Stretching to 5 years gives 0.30, with an annualized covariance of 935.5 %².
Within PHG's tracked universe of 14 assets, TMDX comes in at #9 by 3-year correlation. The last year tells two different stories: PHG led by 22.8 percentage points, +1.0% for PHG against -21.8% for TMDX. Note the risk asymmetry: TMDX runs 2.1 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.
PHG vs TMDX: side by side
| PHG (Koninklijke Philips N.V. NY Registry Shares) | TMDX (TransMedics Group, Inc.) | |
|---|---|---|
| 1-year return | +1.0% | -21.8% |
| 5-year return | -32.8% | +196.3% |
| Volatility (ann.) | 33.4% | 69.5% |
| Beta vs S&P 500 | 0.92 | 1.37 |
| Max drawdown (3Y) | -33.8% | -67.8% |
| Market cap | $26.3B | $3.2B |
| P/E (trailing) | 20.2 | 23.9 |
| Dividend yield | 3.15% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PHG | TMDX |
|---|---|---|
| 2022 | -57.6% | +222.1% |
| 2023 | +55.6% | +27.9% |
| 2024 | +8.5% | -21.0% |
| 2025 | +11.2% | +95.1% |
| 2026 | +3.3% | -24.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PHG and TMDX good diversifiers for each other?
Reasonably. At 0.40, PHG and TMDX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between PHG and TMDX?
The PHG/TMDX correlation stands at 0.40 on a 3-year window (1 year: 0.29, 5 years: 0.30), computed from weekly returns as of 2026-08-27.
Is TMDX a good diversifier for PHG?
Reasonably. At 0.40, PHG and TMDX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
A reading of 0.40 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/phg-vs-tmdx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/phg-vs-tmdx/)
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Related comparisons
Hubs: PHG correlations · TMDX correlations
