EAF vs UHS: Correlation
GrafTech International Ltd. (EAF) and Universal Health Services (UHS) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EAF and UHS?
Across a 3-year window, the weekly returns of EAF and UHS correlate at -0.25, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.43) than the 3-year average (-0.25). Stretching to 5 years gives -0.06, with an annualized covariance of -731.7 %².
Out of 12 assets tracked against EAF, UHS lands near the bottom at #11. Their recent paths diverged sharply: over the last 12 months UHS outperformed by 20.3 percentage points (-25.3% for EAF against -5.0% for UHS). Note the risk asymmetry: EAF runs 3.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
EAF vs UHS: side by side
| EAF (GrafTech International Ltd.) | UHS (Universal Health Services) | |
|---|---|---|
| 1-year return | -25.3% | -5.0% |
| 5-year return | -93.3% | +13.5% |
| Volatility (ann.) | 96.0% | 31.1% |
| Beta vs S&P 500 | 1.47 | 0.60 |
| Max drawdown (3Y) | -86.7% | -42.0% |
| Market cap | $0.2B | $10.2B |
| P/E (trailing) | – | 7.3 |
| Dividend yield | 0.00% | 0.45% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | EAF | UHS |
|---|---|---|
| 2022 | -59.5% | +9.4% |
| 2023 | -53.8% | +8.8% |
| 2024 | -21.0% | +18.2% |
| 2025 | -10.3% | +22.0% |
| 2026 | -52.1% | -20.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EAF and UHS good diversifiers for each other?
Yes. With a correlation of -0.25, EAF and UHS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EAF and UHS?
As of 2026-08-27, the correlation of weekly returns between EAF and UHS is -0.25 over 3 years, -0.43 over 1 year and -0.06 over 5 years.
Is UHS a good diversifier for EAF?
Yes. With a correlation of -0.25, EAF and UHS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 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.
Use this data
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Related comparisons
Hubs: EAF correlations · UHS correlations
