GEHC vs STE: Correlation
GE HealthCare (GEHC) and Steris (STE) show a moderate relationship: their 3-year correlation of weekly returns is 0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GEHC and STE?
Over the past 3 years, GEHC and STE moved with a correlation of 0.46, which is moderate. The relationship has been stable: the 1-year correlation (0.44) sits close to the 3-year figure. Over 5 years the correlation is 0.39, and the annualized covariance of weekly returns is 331.9 %².
Within GEHC's tracked universe of 52 assets, STE comes in at #30 by 3-year correlation. Their 12-month results are close: -2.2% for GEHC against -5.7% for STE. On a rolling one-year basis the correlation drifted between 0.27 and 0.52, 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 STE: side by side
| GEHC (GE HealthCare) | STE (Steris) | |
|---|---|---|
| 1-year return | -2.2% | -5.7% |
| 5-year return | n/a | +13.6% |
| Volatility (ann.) | 32.4% | 22.3% |
| Beta vs S&P 500 | 1.22 | 0.43 |
| Max drawdown (3Y) | -37.4% | -25.4% |
| Market cap | $32.7B | $22.7B |
| P/E (trailing) | 16.9 | 28.5 |
| Dividend yield | 0.19% | 1.06% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | GEHC | STE |
|---|---|---|
| 2022 | – | -23.4% |
| 2023 | +32.6% | +20.2% |
| 2024 | +1.3% | -5.6% |
| 2025 | +5.1% | +24.3% |
| 2026 | -11.5% | -7.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GEHC and STE good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GEHC and STE?
The GEHC/STE correlation stands at 0.46 on a 3-year window (1 year: 0.44, 5 years: 0.39), computed from weekly returns as of 2026-08-27.
Is STE a good diversifier for GEHC?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 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
$ curl https://www.pairbook.io/api/v1/pairs/gehc-vs-ste.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gehc-vs-ste/)
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Related comparisons
Hubs: GEHC correlations · STE correlations
