FTV vs HSIC: Correlation
Fortive (FTV) and Henry Schein (HSIC) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTV and HSIC?
Across a 3-year window, the weekly returns of FTV and HSIC correlate at 0.42, moderate. The relationship has been stable: the 1-year correlation (0.42) sits close to the 3-year figure. Stretching to 5 years gives 0.44, with an annualized covariance of 253.4 %².
By 3-year correlation, HSIC places #26 of the 36 assets tracked against FTV. Over the last 12 months HSIC came out ahead by 7.0 percentage points (+23.9% against +30.9%). On a rolling one-year basis the correlation drifted between 0.27 and 0.58, a moderate band.
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.
FTV vs HSIC: side by side
| FTV (Fortive) | HSIC (Henry Schein) | |
|---|---|---|
| 1-year return | +23.9% | +30.9% |
| 5-year return | +9.6% | +20.1% |
| Volatility (ann.) | 23.8% | 25.2% |
| Beta vs S&P 500 | 0.92 | 0.33 |
| Max drawdown (3Y) | -28.0% | -24.3% |
| Market cap | $18.1B | $10.1B |
| P/E (trailing) | 31.9 | 26.3 |
| Dividend yield | 0.20% | 0.00% |
| Sector / category | Industrials | Health Care |
Year-by-year returns
| Year | FTV | HSIC |
|---|---|---|
| 2022 | -15.4% | +3.0% |
| 2023 | +15.1% | -5.2% |
| 2024 | +2.3% | -8.6% |
| 2025 | -1.9% | +9.2% |
| 2026 | +8.8% | +19.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTV and HSIC good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FTV and HSIC?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.42 over the last year and 0.44 over 5 years.
Is HSIC a good diversifier for FTV?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 mean?
A reading of 0.42 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/ftv-vs-hsic.json
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Related comparisons
Hubs: FTV correlations · HSIC correlations
