SNN vs ZTS: Correlation
Smith & Nephew SNATS, Inc. (SNN) and Zoetis (ZTS) show a moderate relationship: their 3-year correlation of weekly returns is 0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SNN and ZTS?
Over the past 3 years, SNN and ZTS moved with a correlation of 0.46, which is moderate. The past 12 months show a tighter link (0.60) than the 3-year average (0.46). Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 359.8 %².
Among the 14 assets we track against SNN, ZTS ranks #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SNN outperformed by 30.8 percentage points (-20.0% for SNN against -50.8% for ZTS).
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 ZTS: side by side
| SNN (Smith & Nephew SNATS, Inc.) | ZTS (Zoetis) | |
|---|---|---|
| 1-year return | -20.0% | -50.8% |
| 5-year return | -13.6% | -61.5% |
| Volatility (ann.) | 26.3% | 30.1% |
| Beta vs S&P 500 | 0.60 | 0.51 |
| Max drawdown (3Y) | -24.0% | -63.0% |
| Market cap | $12.2B | $31.0B |
| P/E (trailing) | 20.0 | 12.7 |
| Dividend yield | 1.35% | 2.66% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | SNN | ZTS |
|---|---|---|
| 2022 | -20.2% | -39.5% |
| 2023 | +4.4% | +35.9% |
| 2024 | -7.3% | -16.6% |
| 2025 | +36.8% | -21.8% |
| 2026 | -9.9% | -39.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SNN and ZTS good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SNN and ZTS?
Using weekly returns as of 2026-08-27: 0.46 over 3 years, with 0.60 over the last year and 0.43 over 5 years.
Is ZTS a good diversifier for SNN?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 mean?
A reading of 0.46 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/snn-vs-zts.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/snn-vs-zts/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SNN correlations · ZTS correlations
