HSIC vs MTD: Correlation
How closely do Henry Schein (HSIC) and Mettler Toledo (MTD) trade together? Their weekly returns over three years give a correlation of 0.45, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HSIC and MTD?
On 3 years of weekly data the HSIC/MTD correlation comes out at 0.45, moderate. Recent behaviour matches the longer record: 0.42 over 1 year against 0.45 over 3. The 5-year figure is 0.46, and annualized covariance runs at 354.7 %².
Among the 34 assets we track against HSIC, MTD ranks #5 by 3-year correlation. The last year tells two different stories: HSIC led by 21.4 percentage points, +30.9% for HSIC against +9.5% for MTD. On a rolling one-year basis the correlation drifted between 0.23 and 0.55, 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.
HSIC vs MTD: side by side
| HSIC (Henry Schein) | MTD (Mettler Toledo) | |
|---|---|---|
| 1-year return | +30.9% | +9.5% |
| 5-year return | +20.1% | -11.4% |
| Volatility (ann.) | 25.2% | 31.4% |
| Beta vs S&P 500 | 0.33 | 1.00 |
| Max drawdown (3Y) | -24.3% | -36.6% |
| Market cap | $10.1B | $28.2B |
| P/E (trailing) | 26.3 | 31.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | HSIC | MTD |
|---|---|---|
| 2022 | +3.0% | -14.8% |
| 2023 | -5.2% | -16.1% |
| 2024 | -8.6% | +0.9% |
| 2025 | +9.2% | +13.9% |
| 2026 | +19.4% | +0.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HSIC and MTD good diversifiers for each other?
Reasonably. At 0.45, HSIC and MTD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HSIC and MTD?
The HSIC/MTD correlation stands at 0.45 on a 3-year window (1 year: 0.42, 5 years: 0.46), computed from weekly returns as of 2026-08-27.
Is MTD a good diversifier for HSIC?
Reasonably. At 0.45, HSIC and MTD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 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.
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Related comparisons
Hubs: HSIC correlations · MTD correlations
