HSIC vs STE: Correlation
How closely do Henry Schein (HSIC) and Steris (STE) 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 STE?
Across a 3-year window, the weekly returns of HSIC and STE correlate at 0.45, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.57 versus 0.45 over 3 years. Stretching to 5 years gives 0.46, with an annualized covariance of 251.3 %².
Within HSIC's tracked universe of 34 assets, STE comes in at #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months HSIC outperformed by 36.6 percentage points (+30.9% for HSIC against -5.7% for STE). On a rolling one-year basis the correlation drifted between 0.16 and 0.61, 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 STE: side by side
| HSIC (Henry Schein) | STE (Steris) | |
|---|---|---|
| 1-year return | +30.9% | -5.7% |
| 5-year return | +20.1% | +13.6% |
| Volatility (ann.) | 25.2% | 22.3% |
| Beta vs S&P 500 | 0.33 | 0.43 |
| Max drawdown (3Y) | -24.3% | -25.4% |
| Market cap | $10.1B | $22.7B |
| P/E (trailing) | 26.3 | 28.5 |
| Dividend yield | 0.00% | 1.06% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | HSIC | STE |
|---|---|---|
| 2022 | +3.0% | -23.4% |
| 2023 | -5.2% | +20.2% |
| 2024 | -8.6% | -5.6% |
| 2025 | +9.2% | +24.3% |
| 2026 | +19.4% | -7.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HSIC and STE good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HSIC and STE?
As of 2026-08-27, the correlation of weekly returns between HSIC and STE is 0.45 over 3 years, 0.57 over 1 year and 0.46 over 5 years.
Is STE a good diversifier for HSIC?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 mean?
A reading of 0.45 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-ste.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hsic-vs-ste/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HSIC correlations · STE correlations
