LEG vs NVST: Correlation
Measured on weekly returns over the past three years, Leggett & Platt, Incorporated (LEG) and Envista Holdings Corporation (NVST) carry a correlation of 0.54, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LEG and NVST?
On 3 years of weekly data the LEG/NVST correlation comes out at 0.54, moderate. The past 12 months show a tighter link (0.68) than the 3-year average (0.54). The 5-year figure is 0.49, and annualized covariance runs at 938.5 %².
Among the 16 assets we track against LEG, NVST ranks #6 by 3-year correlation. The last year tells two different stories: NVST led by 16.5 percentage points, +12.7% for LEG against +29.2% for NVST.
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.
LEG vs NVST: side by side
| LEG (Leggett & Platt, Incorporated) | NVST (Envista Holdings Corporation) | |
|---|---|---|
| 1-year return | +12.7% | +29.2% |
| 5-year return | -72.6% | -35.8% |
| Volatility (ann.) | 48.5% | 35.4% |
| Beta vs S&P 500 | 1.29 | 0.80 |
| Max drawdown (3Y) | -76.8% | -55.4% |
| Market cap | $1.3B | $4.4B |
| P/E (trailing) | 5.9 | 48.1 |
| Dividend yield | 2.15% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LEG | NVST |
|---|---|---|
| 2022 | -17.8% | -25.3% |
| 2023 | -13.5% | -28.5% |
| 2024 | -61.9% | -19.8% |
| 2025 | +17.0% | +12.5% |
| 2026 | +1.2% | +26.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LEG and NVST good diversifiers for each other?
Only partially. A correlation of 0.54 means LEG and NVST share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between LEG and NVST?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.68 over the last year and 0.49 over 5 years.
Is NVST a good diversifier for LEG?
Only partially. A correlation of 0.54 means LEG and NVST share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.54 mean?
On the −1 to +1 scale, 0.54 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/leg-vs-nvst.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/leg-vs-nvst/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LEG correlations · NVST correlations
