CVCO vs HSIC: Correlation
Measured on weekly returns over the past three years, Cavco Industries, Inc. (CVCO) and Henry Schein (HSIC) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVCO and HSIC?
On 3 years of weekly data the CVCO/HSIC correlation comes out at 0.44, moderate. Recent behaviour matches the longer record: 0.53 over 1 year against 0.44 over 3. The 5-year figure is 0.40, and annualized covariance runs at 441.8 %².
Among the 13 assets we track against CVCO, HSIC ranks #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months HSIC outperformed by 23.3 percentage points (+7.6% for CVCO against +30.9% for HSIC). Risk is not evenly split, since CVCO carries 1.6 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.
CVCO vs HSIC: side by side
| CVCO (Cavco Industries, Inc.) | HSIC (Henry Schein) | |
|---|---|---|
| 1-year return | +7.6% | +30.9% |
| 5-year return | +119.4% | +20.1% |
| Volatility (ann.) | 39.8% | 25.2% |
| Beta vs S&P 500 | 0.96 | 0.33 |
| Max drawdown (3Y) | -34.7% | -24.3% |
| Market cap | $4.4B | $10.1B |
| P/E (trailing) | 25.1 | 26.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | CVCO | HSIC |
|---|---|---|
| 2022 | -28.8% | +3.0% |
| 2023 | +53.2% | -5.2% |
| 2024 | +28.7% | -8.6% |
| 2025 | +32.4% | +9.2% |
| 2026 | -3.5% | +19.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVCO and HSIC good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CVCO and HSIC?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.53 over the last year and 0.40 over 5 years.
Is HSIC a good diversifier for CVCO?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.44 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: CVCO correlations · HSIC correlations
