ABT vs STE: Correlation
How closely do Abbott Laboratories (ABT) and Steris (STE) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABT and STE?
Across a 3-year window, the weekly returns of ABT and STE correlate at 0.42, moderate. Little has changed lately, as the 1-year reading of 0.40 lands near the 3-year figure. Stretching to 5 years gives 0.51, with an annualized covariance of 207.0 %².
By 3-year correlation, STE places #5 of the 29 assets tracked against ABT. The trailing year gives STE the advantage: -13.2% versus -5.7%, a 7.5-point spread. Stability stands out here, with the rolling one-year correlation confined to 0.35 through 0.53.
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.
ABT vs STE: side by side
| ABT (Abbott Laboratories) | STE (Steris) | |
|---|---|---|
| 1-year return | -13.2% | -5.7% |
| 5-year return | -2.3% | +13.6% |
| Volatility (ann.) | 22.0% | 22.3% |
| Beta vs S&P 500 | 0.16 | 0.43 |
| Max drawdown (3Y) | -39.6% | -25.4% |
| Market cap | $193.1B | $22.7B |
| P/E (trailing) | 37.0 | 28.5 |
| Dividend yield | 2.17% | 1.06% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | ABT | STE |
|---|---|---|
| 2022 | -20.7% | -23.4% |
| 2023 | +2.3% | +20.2% |
| 2024 | +4.8% | -5.6% |
| 2025 | +12.9% | +24.3% |
| 2026 | -9.3% | -7.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABT and STE good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ABT and STE?
As of 2026-08-27, the correlation of weekly returns between ABT and STE is 0.42 over 3 years, 0.40 over 1 year and 0.51 over 5 years.
Is STE a good diversifier for ABT?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 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/abt-vs-ste.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/abt-vs-ste/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ABT correlations · STE correlations
