SYK vs ZBH: Correlation
Stryker Corporation (SYK) and Zimmer Biomet (ZBH) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SYK and ZBH?
Over the past 3 years, SYK and ZBH moved with a correlation of 0.58, which is moderate. Recent behaviour matches the longer record: 0.56 over 1 year against 0.58 over 3. Over 5 years the correlation is 0.64, and the annualized covariance of weekly returns is 309.5 %².
In SYK's tracked universe of 38 assets, ZBH sits right near the top at #1. On 12-month performance ZBH holds a 11.3-point edge, -17.2% against -5.9%. On a rolling one-year basis the correlation drifted between 0.43 and 0.71, a moderate band.
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 ZBH: side by side
| SYK (Stryker Corporation) | ZBH (Zimmer Biomet) | |
|---|---|---|
| 1-year return | -17.2% | -5.9% |
| 5-year return | +23.8% | -28.6% |
| Volatility (ann.) | 21.5% | 24.9% |
| Beta vs S&P 500 | 0.61 | 0.51 |
| Max drawdown (3Y) | -29.4% | -38.8% |
| Market cap | $123.6B | $19.0B |
| P/E (trailing) | 34.1 | 24.6 |
| Dividend yield | 1.06% | 0.95% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | SYK | ZBH |
|---|---|---|
| 2022 | -7.4% | +4.2% |
| 2023 | +23.8% | -3.8% |
| 2024 | +21.3% | -12.5% |
| 2025 | -1.5% | -14.0% |
| 2026 | -7.9% | +11.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SYK and ZBH good diversifiers for each other?
Only partially. A correlation of 0.58 means SYK and ZBH 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 ZBH?
The SYK/ZBH correlation stands at 0.58 on a 3-year window (1 year: 0.56, 5 years: 0.64), computed from weekly returns as of 2026-08-27.
Is ZBH a good diversifier for SYK?
Only partially. A correlation of 0.58 means SYK and ZBH share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.58 mean?
On the −1 to +1 scale, 0.58 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/syk-vs-zbh.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/syk-vs-zbh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SYK correlations · ZBH correlations
