DVA vs GTES: Correlation
DaVita (DVA) and Gates Industrial Corporation Ltd. (GTES) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DVA and GTES?
Over the past 3 years, DVA and GTES moved with a correlation of 0.40, which is moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.40 over 3. Over 5 years the correlation is 0.32, and the annualized covariance of weekly returns is 572.0 %².
By 3-year correlation, GTES places #7 of the 38 assets tracked against DVA. Their recent paths diverged sharply: over the last 12 months DVA outperformed by 28.5 percentage points (+30.0% for DVA against +1.5% for GTES).
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.
DVA vs GTES: side by side
| DVA (DaVita) | GTES (Gates Industrial Corporation Ltd.) | |
|---|---|---|
| 1-year return | +30.0% | +1.5% |
| 5-year return | +36.4% | +56.6% |
| Volatility (ann.) | 40.9% | 35.0% |
| Beta vs S&P 500 | 0.38 | 1.27 |
| Max drawdown (3Y) | -41.4% | -33.8% |
| Market cap | $11.4B | $6.7B |
| P/E (trailing) | 15.3 | 18.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | DVA | GTES |
|---|---|---|
| 2022 | -34.4% | -28.3% |
| 2023 | +40.3% | +17.6% |
| 2024 | +42.8% | +53.3% |
| 2025 | -24.0% | +4.4% |
| 2026 | +57.5% | +22.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DVA and GTES good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DVA and GTES?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.50 over the last year and 0.32 over 5 years.
Is GTES a good diversifier for DVA?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 mean?
A reading of 0.40 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dva-vs-gtes.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dva-vs-gtes/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DVA correlations · GTES correlations
