SNN vs ZBH: Correlation
Measured on weekly returns over the past three years, Smith & Nephew SNATS, Inc. (SNN) and Zimmer Biomet (ZBH) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SNN and ZBH?
On 3 years of weekly data the SNN/ZBH correlation comes out at 0.50, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.65 versus 0.50 over 3 years. The 5-year figure is 0.54, and annualized covariance runs at 328.1 %².
By 3-year correlation, ZBH places #4 of the 14 assets tracked against SNN. On 12-month performance ZBH holds a 14.1-point edge, -20.0% against -5.9%.
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.
SNN vs ZBH: side by side
| SNN (Smith & Nephew SNATS, Inc.) | ZBH (Zimmer Biomet) | |
|---|---|---|
| 1-year return | -20.0% | -5.9% |
| 5-year return | -13.6% | -28.6% |
| Volatility (ann.) | 26.3% | 24.9% |
| Beta vs S&P 500 | 0.60 | 0.51 |
| Max drawdown (3Y) | -24.0% | -38.8% |
| Market cap | $12.2B | $19.0B |
| P/E (trailing) | 20.0 | 24.6 |
| Dividend yield | 1.35% | 0.95% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | SNN | ZBH |
|---|---|---|
| 2022 | -20.2% | +4.2% |
| 2023 | +4.4% | -3.8% |
| 2024 | -7.3% | -12.5% |
| 2025 | +36.8% | -14.0% |
| 2026 | -9.9% | +11.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SNN and ZBH good diversifiers for each other?
To a limited degree. At 0.50 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 SNN and ZBH?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.65 over the last year and 0.54 over 5 years.
Is ZBH a good diversifier for SNN?
To a limited degree. At 0.50 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 0.50 mean?
On the −1 to +1 scale, 0.50 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/snn-vs-zbh.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/snn-vs-zbh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SNN correlations · ZBH correlations
