CLVT vs XRAY: Correlation
Clarivate Plc (CLVT) and DENTSPLY SIRONA Inc. (XRAY) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLVT and XRAY?
Across a 3-year window, the weekly returns of CLVT and XRAY correlate at 0.48, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.34 versus 0.48 over 3 years. Stretching to 5 years gives 0.49, with an annualized covariance of 1117.2 %².
Among the 13 assets we track against CLVT, XRAY ranks #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months XRAY outperformed by 33.9 percentage points (-54.7% for CLVT against -20.8% for XRAY). One caveat on sizing: CLVT 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.
CLVT vs XRAY: side by side
| CLVT (Clarivate Plc) | XRAY (DENTSPLY SIRONA Inc.) | |
|---|---|---|
| 1-year return | -54.7% | -20.8% |
| 5-year return | -91.9% | -80.0% |
| Volatility (ann.) | 59.3% | 39.4% |
| Beta vs S&P 500 | 0.99 | 0.54 |
| Max drawdown (3Y) | -82.2% | -72.3% |
| Market cap | $1.3B | $2.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 2.93% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLVT | XRAY |
|---|---|---|
| 2022 | -64.5% | -42.1% |
| 2023 | +11.0% | +13.5% |
| 2024 | -45.1% | -45.3% |
| 2025 | -34.3% | -36.8% |
| 2026 | -39.2% | -3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLVT and XRAY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CLVT and XRAY?
The CLVT/XRAY correlation stands at 0.48 on a 3-year window (1 year: 0.34, 5 years: 0.49), computed from weekly returns as of 2026-08-27.
Is XRAY a good diversifier for CLVT?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 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.
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Related comparisons
Hubs: CLVT correlations · XRAY correlations
