SYK vs USMV: Correlation
Measured on weekly returns over the past three years, Stryker Corporation (SYK) and iShares MSCI USA Min Vol Factor ETF (USMV) 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 SYK and USMV?
On 3 years of weekly data the SYK/USMV correlation comes out at 0.50, moderate. The relationship has been stable: the 1-year correlation (0.46) sits close to the 3-year figure. The 5-year figure is 0.62, and annualized covariance runs at 107.1 %².
By 3-year correlation, USMV places #7 of the 38 assets tracked against SYK. Their recent paths diverged sharply: over the last 12 months USMV outperformed by 27.3 percentage points (-17.2% for SYK against +10.1% for USMV). On a rolling one-year basis the correlation drifted between 0.31 and 0.72, a moderate band. Note the risk asymmetry: SYK runs 2.2 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.
SYK vs USMV: side by side
| SYK (Stryker Corporation) | USMV (iShares MSCI USA Min Vol Factor ETF) | |
|---|---|---|
| 1-year return | -17.2% | +10.1% |
| 5-year return | +23.8% | +42.3% |
| Volatility (ann.) | 21.5% | 9.9% |
| Beta vs S&P 500 | 0.61 | 0.51 |
| Max drawdown (3Y) | -29.4% | -9.4% |
| Market cap | $123.6B | – |
| P/E (trailing) | 34.1 | – |
| Dividend yield | 1.06% | 1.48% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $23.6B |
| Sector / category | Health Care | ETF · US Style |
USMV, iShares's Large Blend fund, carries $23.6B under management, 164 holdings, a 0.15% expense ratio, a 1.48% trailing dividend yield.
Year-by-year returns
| Year | SYK | USMV |
|---|---|---|
| 2022 | -7.4% | -9.4% |
| 2023 | +23.8% | +10.3% |
| 2024 | +21.3% | +15.7% |
| 2025 | -1.5% | +7.6% |
| 2026 | -7.9% | +9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SYK and USMV good diversifiers for each other?
Only partially. A correlation of 0.50 means SYK and USMV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between SYK and USMV?
The SYK/USMV correlation stands at 0.50 on a 3-year window (1 year: 0.46, 5 years: 0.62), computed from weekly returns as of 2026-08-27.
Is USMV a good diversifier for SYK?
Only partially. A correlation of 0.50 means SYK and USMV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.50 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/syk-vs-usmv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/syk-vs-usmv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SYK correlations · USMV correlations
