GEHC vs MTD: Correlation
How closely do GE HealthCare (GEHC) and Mettler Toledo (MTD) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GEHC and MTD?
On 3 years of weekly data the GEHC/MTD correlation comes out at 0.54, moderate. Little has changed lately, as the 1-year reading of 0.52 lands near the 3-year figure. The 5-year figure is 0.55, and annualized covariance runs at 545.1 %².
Within GEHC's tracked universe of 52 assets, MTD comes in at #20 by 3-year correlation. The trailing year gives MTD the advantage: -2.2% versus +9.5%, a 11.7-point spread. On a rolling one-year basis the correlation drifted between 0.32 and 0.80, 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.
GEHC vs MTD: side by side
| GEHC (GE HealthCare) | MTD (Mettler Toledo) | |
|---|---|---|
| 1-year return | -2.2% | +9.5% |
| 5-year return | n/a | -11.4% |
| Volatility (ann.) | 32.4% | 31.4% |
| Beta vs S&P 500 | 1.22 | 1.00 |
| Max drawdown (3Y) | -37.4% | -36.6% |
| Market cap | $32.7B | $28.2B |
| P/E (trailing) | 16.9 | 31.7 |
| Dividend yield | 0.19% | 0.00% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | GEHC | MTD |
|---|---|---|
| 2022 | – | -14.8% |
| 2023 | +32.6% | -16.1% |
| 2024 | +1.3% | +0.9% |
| 2025 | +5.1% | +13.9% |
| 2026 | -11.5% | +0.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GEHC and MTD good diversifiers for each other?
Only partially. A correlation of 0.54 means GEHC and MTD share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between GEHC and MTD?
The GEHC/MTD correlation stands at 0.54 on a 3-year window (1 year: 0.52, 5 years: 0.55), computed from weekly returns as of 2026-08-27.
Is MTD a good diversifier for GEHC?
Only partially. A correlation of 0.54 means GEHC and MTD share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.54 mean?
On the −1 to +1 scale, 0.54 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/gehc-vs-mtd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gehc-vs-mtd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GEHC correlations · MTD correlations
