DGX vs STE: Correlation
How closely do Quest Diagnostics (DGX) and Steris (STE) trade together? Their weekly returns over three years give a correlation of 0.34, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGX and STE?
Across a 3-year window, the weekly returns of DGX and STE correlate at 0.34, moderate. Little has changed lately, as the 1-year reading of 0.39 lands near the 3-year figure. Stretching to 5 years gives 0.32, with an annualized covariance of 143.9 %².
By 3-year correlation, STE places #17 of the 32 assets tracked against DGX. Their recent paths diverged sharply: over the last 12 months DGX outperformed by 44.2 percentage points (+38.5% for DGX against -5.7% for STE). The rolling one-year correlation moved between -0.05 and 0.42 over the past three years, a moderate range.
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.
DGX vs STE: side by side
| DGX (Quest Diagnostics) | STE (Steris) | |
|---|---|---|
| 1-year return | +38.5% | -5.7% |
| 5-year return | +78.8% | +13.6% |
| Volatility (ann.) | 19.1% | 22.3% |
| Beta vs S&P 500 | 0.09 | 0.43 |
| Max drawdown (3Y) | -12.4% | -25.4% |
| Market cap | $27.0B | $22.7B |
| P/E (trailing) | 26.0 | 28.5 |
| Dividend yield | 1.36% | 1.06% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | DGX | STE |
|---|---|---|
| 2022 | -7.8% | -23.4% |
| 2023 | -10.1% | +20.2% |
| 2024 | +11.8% | -5.6% |
| 2025 | +17.2% | +24.3% |
| 2026 | +42.8% | -7.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGX and STE good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between DGX and STE?
The DGX/STE correlation stands at 0.34 on a 3-year window (1 year: 0.39, 5 years: 0.32), computed from weekly returns as of 2026-08-27.
Is STE a good diversifier for DGX?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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/dgx-vs-ste.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dgx-vs-ste/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DGX correlations · STE correlations
