Associations among quantities and concentrations of individual milk proteins and fatty acids were determined in individual milk samples from 233 Holstein cows. Correlation coefficients among the six major proteins and the eleven major fatty acids in bovine milk were grouped hierarchically. Factor analyses grouped the milk components into seven families: fatty acids 4:0–6:0, 6:0–16:0, 16:0, 18:0, 16:1 plus 18:1 plus 18:2, all milk proteins and β-lactoglobulin alone. Correlation coefficients and groupings by factor analyses coincided with shared pathways of synthesis or genetic origins of milk proteins and fatty acids because they are the basis of the correlation coefficients. Hence, the results from correlations and factor analyses could be used to develop hypotheses for the synthesis of milk components and other coordinately regulated physiological processes.