BTI vs STE: Correlation
British American Tobacco Industries, p.l.c. (BTI) and Steris (STE) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTI and STE?
On 3 years of weekly data the BTI/STE correlation comes out at 0.38, moderate. The relationship has been stable: the 1-year correlation (0.36) sits close to the 3-year figure. The 5-year figure is 0.34, and annualized covariance runs at 193.4 %².
Among the 21 assets we track against BTI, STE ranks #5 by 3-year correlation. The trailing year gives BTI the advantage: +4.8% versus -5.7%, a 10.5-point spread.
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.
BTI vs STE: side by side
| BTI (British American Tobacco Industries, p.l.c.) | STE (Steris) | |
|---|---|---|
| 1-year return | +4.8% | -5.7% |
| 5-year return | +119.4% | +13.6% |
| Volatility (ann.) | 22.5% | 22.3% |
| Beta vs S&P 500 | 0.06 | 0.43 |
| Max drawdown (3Y) | -15.3% | -25.4% |
| Market cap | $121.2B | $22.7B |
| P/E (trailing) | 14.5 | 28.5 |
| Dividend yield | 4.27% | 1.06% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | BTI | STE |
|---|---|---|
| 2022 | +15.1% | -23.4% |
| 2023 | -20.1% | +20.2% |
| 2024 | +35.4% | -5.6% |
| 2025 | +65.8% | +24.3% |
| 2026 | +2.2% | -7.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTI and STE good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BTI and STE?
The BTI/STE correlation stands at 0.38 on a 3-year window (1 year: 0.36, 5 years: 0.34), computed from weekly returns as of 2026-08-27.
Is STE a good diversifier for BTI?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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/bti-vs-ste.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bti-vs-ste/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BTI correlations · STE correlations
