AWI vs UHS: Correlation
Measured on weekly returns over the past three years, Armstrong World Industries Inc (AWI) and Universal Health Services (UHS) carry a correlation of 0.46, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AWI and UHS?
Across a 3-year window, the weekly returns of AWI and UHS correlate at 0.46, moderate. Recent behaviour matches the longer record: 0.45 over 1 year against 0.46 over 3. Stretching to 5 years gives 0.38, with an annualized covariance of 392.3 %².
Among the 15 assets we track against AWI, UHS ranks #9 by 3-year correlation. On 12-month performance UHS holds a 5.5-point edge, -10.5% against -5.0%.
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.
AWI vs UHS: side by side
| AWI (Armstrong World Industries Inc) | UHS (Universal Health Services) | |
|---|---|---|
| 1-year return | -10.5% | -5.0% |
| 5-year return | +76.7% | +13.5% |
| Volatility (ann.) | 27.3% | 31.1% |
| Beta vs S&P 500 | 0.88 | 0.60 |
| Max drawdown (3Y) | -25.2% | -42.0% |
| Market cap | $7.4B | $10.2B |
| P/E (trailing) | 24.3 | 7.3 |
| Dividend yield | 0.76% | 0.45% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | AWI | UHS |
|---|---|---|
| 2022 | -40.3% | +9.4% |
| 2023 | +45.4% | +8.8% |
| 2024 | +45.1% | +18.2% |
| 2025 | +36.2% | +22.0% |
| 2026 | -7.6% | -20.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AWI and UHS good diversifiers for each other?
Reasonably. At 0.46, AWI and UHS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AWI and UHS?
The AWI/UHS correlation stands at 0.46 on a 3-year window (1 year: 0.45, 5 years: 0.38), computed from weekly returns as of 2026-08-27.
Is UHS a good diversifier for AWI?
Reasonably. At 0.46, AWI and UHS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.46 mean?
On the −1 to +1 scale, 0.46 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.
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Related comparisons
Hubs: AWI correlations · UHS correlations
