FBIN vs XRAY: Correlation
Measured on weekly returns over the past three years, Fortune Brands Innovations, Inc. (FBIN) and DENTSPLY SIRONA Inc. (XRAY) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FBIN and XRAY?
Across a 3-year window, the weekly returns of FBIN and XRAY correlate at 0.49, moderate. Recent behaviour matches the longer record: 0.55 over 1 year against 0.49 over 3. Stretching to 5 years gives 0.53, with an annualized covariance of 749.0 %².
By 3-year correlation, XRAY places #13 of the 20 assets tracked against FBIN. Their 12-month results are close: -22.1% for FBIN against -20.8% for XRAY.
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.
FBIN vs XRAY: side by side
| FBIN (Fortune Brands Innovations, Inc.) | XRAY (DENTSPLY SIRONA Inc.) | |
|---|---|---|
| 1-year return | -22.1% | -20.8% |
| 5-year return | -42.9% | -80.0% |
| Volatility (ann.) | 38.8% | 39.4% |
| Beta vs S&P 500 | 1.29 | 0.54 |
| Max drawdown (3Y) | -61.9% | -72.3% |
| Market cap | $5.4B | $2.2B |
| P/E (trailing) | 37.4 | – |
| Dividend yield | 2.20% | 2.93% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FBIN | XRAY |
|---|---|---|
| 2022 | -36.5% | -42.1% |
| 2023 | +35.2% | +13.5% |
| 2024 | -9.1% | -45.3% |
| 2025 | -25.4% | -36.8% |
| 2026 | -7.8% | -3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FBIN and XRAY good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FBIN and XRAY?
The FBIN/XRAY correlation stands at 0.49 on a 3-year window (1 year: 0.55, 5 years: 0.53), computed from weekly returns as of 2026-08-27.
Is XRAY a good diversifier for FBIN?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.49 mean?
On the −1 to +1 scale, 0.49 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/fbin-vs-xray.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fbin-vs-xray/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FBIN correlations · XRAY correlations
