HSIC vs ITW: Correlation
Henry Schein (HSIC) and Illinois Tool Works (ITW) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HSIC and ITW?
On 3 years of weekly data the HSIC/ITW correlation comes out at 0.48, moderate. Recent behaviour matches the longer record: 0.48 over 1 year against 0.48 over 3. The 5-year figure is 0.47, and annualized covariance runs at 229.9 %².
In HSIC's tracked universe of 34 assets, ITW sits right near the top at #2. Correlation aside, the last 12 months split them widely, with HSIC ahead by 22.7 points (+30.9% versus +8.2%). The link looks structural: the rolling one-year correlation barely moved, holding between 0.30 and 0.54.
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 ITW: side by side
| HSIC (Henry Schein) | ITW (Illinois Tool Works) | |
|---|---|---|
| 1-year return | +30.9% | +8.2% |
| 5-year return | +20.1% | +36.1% |
| Volatility (ann.) | 25.2% | 19.0% |
| Beta vs S&P 500 | 0.33 | 0.64 |
| Max drawdown (3Y) | -24.3% | -20.6% |
| Market cap | $10.1B | $80.2B |
| P/E (trailing) | 26.3 | 25.8 |
| Dividend yield | 0.00% | 2.26% |
| Sector / category | Health Care | Industrials |
Year-by-year returns
| Year | HSIC | ITW |
|---|---|---|
| 2022 | +3.0% | -8.5% |
| 2023 | -5.2% | +21.6% |
| 2024 | -8.6% | -1.0% |
| 2025 | +9.2% | -0.4% |
| 2026 | +19.4% | +15.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HSIC and ITW good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HSIC and ITW?
As of 2026-08-27, the correlation of weekly returns between HSIC and ITW is 0.48 over 3 years, 0.48 over 1 year and 0.47 over 5 years.
Is ITW a good diversifier for HSIC?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 mean?
A reading of 0.48 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/hsic-vs-itw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hsic-vs-itw/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HSIC correlations · ITW correlations
