HSIC vs NVST: Correlation
How closely do Henry Schein (HSIC) and Envista Holdings Corporation (NVST) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HSIC and NVST?
On 3 years of weekly data the HSIC/NVST correlation comes out at 0.48, moderate. Recent behaviour matches the longer record: 0.51 over 1 year against 0.48 over 3. The 5-year figure is 0.53, and annualized covariance runs at 423.9 %².
In HSIC's tracked universe of 34 assets, NVST sits right near the top at #3. Neither side won the trailing year by much: +30.9% against +29.2%.
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 NVST: side by side
| HSIC (Henry Schein) | NVST (Envista Holdings Corporation) | |
|---|---|---|
| 1-year return | +30.9% | +29.2% |
| 5-year return | +20.1% | -35.8% |
| Volatility (ann.) | 25.2% | 35.4% |
| Beta vs S&P 500 | 0.33 | 0.80 |
| Max drawdown (3Y) | -24.3% | -55.4% |
| Market cap | $10.1B | $4.4B |
| P/E (trailing) | 26.3 | 48.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | HSIC | NVST |
|---|---|---|
| 2022 | +3.0% | -25.3% |
| 2023 | -5.2% | -28.5% |
| 2024 | -8.6% | -19.8% |
| 2025 | +9.2% | +12.5% |
| 2026 | +19.4% | +26.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HSIC and NVST 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 NVST?
As of 2026-08-27, the correlation of weekly returns between HSIC and NVST is 0.48 over 3 years, 0.51 over 1 year and 0.53 over 5 years.
Is NVST 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?
On the −1 to +1 scale, 0.48 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hsic-vs-nvst.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hsic-vs-nvst/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HSIC correlations · NVST correlations
