HCA vs UHS: Correlation
How closely do HCA Healthcare (HCA) and Universal Health Services (UHS) trade together? Their weekly returns over three years give a correlation of 0.77, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HCA and UHS?
On 3 years of weekly data the HCA/UHS correlation comes out at 0.77, strong. Little has changed lately, as the 1-year reading of 0.69 lands near the 3-year figure. The 5-year figure is 0.76, and annualized covariance runs at 645.8 %².
UHS is one of the assets that tracks HCA most closely: it ranks #1 out of the 32 assets we track against HCA. On 12-month performance HCA holds a 9.2-point edge, +4.2% against -5.0%. The link looks structural: the rolling one-year correlation barely moved, holding between 0.67 and 0.87.
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.
HCA vs UHS: side by side
| HCA (HCA Healthcare) | UHS (Universal Health Services) | |
|---|---|---|
| 1-year return | +4.2% | -5.0% |
| 5-year return | +72.5% | +13.5% |
| Volatility (ann.) | 26.9% | 31.1% |
| Beta vs S&P 500 | 0.42 | 0.60 |
| Max drawdown (3Y) | -33.6% | -42.0% |
| Market cap | $90.8B | $10.2B |
| P/E (trailing) | 14.1 | 7.3 |
| Dividend yield | 0.70% | 0.45% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | HCA | UHS |
|---|---|---|
| 2022 | -5.6% | +9.4% |
| 2023 | +13.8% | +8.8% |
| 2024 | +11.8% | +18.2% |
| 2025 | +56.7% | +22.0% |
| 2026 | -9.9% | -20.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HCA and UHS good diversifiers for each other?
Somewhat, no more. With 0.77 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between HCA and UHS?
The HCA/UHS correlation stands at 0.77 on a 3-year window (1 year: 0.69, 5 years: 0.76), computed from weekly returns as of 2026-08-27.
Is UHS a good diversifier for HCA?
Somewhat, no more. With 0.77 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.77 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.
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Related comparisons
Hubs: HCA correlations · UHS correlations
