HSIC vs IR: Correlation
Henry Schein (HSIC) and Ingersoll Rand (IR) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HSIC and IR?
Over the past 3 years, HSIC and IR moved with a correlation of 0.43, which is moderate. Little has changed lately, as the 1-year reading of 0.47 lands near the 3-year figure. Over 5 years the correlation is 0.41, and the annualized covariance of weekly returns is 321.6 %².
Within HSIC's tracked universe of 34 assets, IR comes in at #10 by 3-year correlation. Correlation aside, the last 12 months split them widely, with HSIC ahead by 32.9 points (+30.9% versus -2.0%). Across three years, the rolling one-year figure varied moderately, from 0.11 to 0.58.
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.
HSIC vs IR: side by side
| HSIC (Henry Schein) | IR (Ingersoll Rand) | |
|---|---|---|
| 1-year return | +30.9% | -2.0% |
| 5-year return | +20.1% | +49.2% |
| Volatility (ann.) | 25.2% | 29.8% |
| Beta vs S&P 500 | 0.33 | 1.17 |
| Max drawdown (3Y) | -24.3% | -36.6% |
| Market cap | $10.1B | $30.6B |
| P/E (trailing) | 26.3 | 32.6 |
| Dividend yield | 0.00% | 0.15% |
| Sector / category | Health Care | Industrials |
Year-by-year returns
| Year | HSIC | IR |
|---|---|---|
| 2022 | +3.0% | -15.4% |
| 2023 | -5.2% | +48.2% |
| 2024 | -8.6% | +17.1% |
| 2025 | +9.2% | -12.3% |
| 2026 | +19.4% | -0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HSIC and IR good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HSIC and IR?
The HSIC/IR correlation stands at 0.43 on a 3-year window (1 year: 0.47, 5 years: 0.41), computed from weekly returns as of 2026-08-27.
Is IR a good diversifier for HSIC?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 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/hsic-vs-ir.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hsic-vs-ir/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HSIC correlations · IR correlations
