COR vs VECO: Correlation
Cencora (COR) and Veeco Instruments Inc. (VECO) show a negative relationship: their 3-year correlation of weekly returns is -0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COR and VECO?
Across a 3-year window, the weekly returns of COR and VECO correlate at -0.29, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.37 lands near the 3-year figure. Stretching to 5 years gives -0.11, with an annualized covariance of -308.0 %².
VECO is close to the least connected end of COR's tracked universe, ranking #40 of 43. Correlation aside, the last 12 months split them widely, with VECO ahead by 84.2 points (+11.4% versus +95.6%). Risk is not evenly split, since VECO carries 2.2 times the volatility of the other side.
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.
COR vs VECO: side by side
| COR (Cencora) | VECO (Veeco Instruments Inc.) | |
|---|---|---|
| 1-year return | +11.4% | +95.6% |
| 5-year return | +188.6% | +105.2% |
| Volatility (ann.) | 21.9% | 49.1% |
| Beta vs S&P 500 | 0.08 | 1.57 |
| Max drawdown (3Y) | -32.4% | -64.2% |
| Market cap | $61.3B | $2.9B |
| P/E (trailing) | 24.3 | 120.4 |
| Dividend yield | 0.72% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | COR | VECO |
|---|---|---|
| 2022 | +26.3% | -34.7% |
| 2023 | +25.3% | +67.0% |
| 2024 | +10.4% | -13.6% |
| 2025 | +51.5% | +6.6% |
| 2026 | -4.3% | +64.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COR and VECO good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between COR and VECO?
As of 2026-08-27, the correlation of weekly returns between COR and VECO is -0.29 over 3 years, -0.37 over 1 year and -0.11 over 5 years.
Is VECO a good diversifier for COR?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 mean?
On the −1 to +1 scale, -0.29 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/cor-vs-veco.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cor-vs-veco/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: COR correlations · VECO correlations
