AVTR vs DHR: Correlation
How closely do Avantor, Inc. (AVTR) and Danaher Corporation (DHR) trade together? Their weekly returns over three years give a correlation of 0.64, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVTR and DHR?
On 3 years of weekly data the AVTR/DHR correlation comes out at 0.64, strong. The relationship has been stable: the 1-year correlation (0.66) sits close to the 3-year figure. The 5-year figure is 0.62, and annualized covariance runs at 849.0 %².
DHR is one of the assets that tracks AVTR most closely: it ranks #2 out of the 14 assets we track against AVTR. Their 12-month results are close: +10.8% for AVTR against +6.0% for DHR. One caveat on sizing: AVTR is 1.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
AVTR vs DHR: side by side
| AVTR (Avantor, Inc.) | DHR (Danaher Corporation) | |
|---|---|---|
| 1-year return | +10.8% | +6.0% |
| 5-year return | -63.4% | -23.8% |
| Volatility (ann.) | 44.6% | 29.5% |
| Beta vs S&P 500 | 0.89 | 0.82 |
| Max drawdown (3Y) | -73.2% | -41.7% |
| Market cap | $9.9B | $151.6B |
| P/E (trailing) | – | 38.4 |
| Dividend yield | 0.00% | 0.67% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | AVTR | DHR |
|---|---|---|
| 2022 | -50.0% | -19.0% |
| 2023 | +8.3% | -1.2% |
| 2024 | -7.7% | -0.3% |
| 2025 | -45.6% | +0.4% |
| 2026 | +27.5% | -5.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVTR and DHR good diversifiers for each other?
To a limited degree. At 0.64 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between AVTR and DHR?
As of 2026-08-27, the correlation of weekly returns between AVTR and DHR is 0.64 over 3 years, 0.66 over 1 year and 0.62 over 5 years.
Is DHR a good diversifier for AVTR?
To a limited degree. At 0.64 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.64 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/avtr-vs-dhr.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/avtr-vs-dhr/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AVTR correlations · DHR correlations
