MTD vs UHS: Correlation
Mettler Toledo (MTD) and Universal Health Services (UHS) show a moderate relationship: their 3-year correlation of weekly returns is 0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTD and UHS?
On 3 years of weekly data the MTD/UHS correlation comes out at 0.34, moderate. The past 12 months show a weaker link (0.18) than the 3-year average (0.34). The 5-year figure is 0.38, and annualized covariance runs at 336.5 %².
Within MTD's tracked universe of 38 assets, UHS comes in at #27 by 3-year correlation. Over the last 12 months MTD came out ahead by 14.5 percentage points (+9.5% against -5.0%). This link changes with the market regime, having swung between 0.08 and 0.59 on a rolling one-year basis.
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.
MTD vs UHS: side by side
| MTD (Mettler Toledo) | UHS (Universal Health Services) | |
|---|---|---|
| 1-year return | +9.5% | -5.0% |
| 5-year return | -11.4% | +13.5% |
| Volatility (ann.) | 31.4% | 31.1% |
| Beta vs S&P 500 | 1.00 | 0.60 |
| Max drawdown (3Y) | -36.6% | -42.0% |
| Market cap | $28.2B | $10.2B |
| P/E (trailing) | 31.7 | 7.3 |
| Dividend yield | 0.00% | 0.45% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | MTD | UHS |
|---|---|---|
| 2022 | -14.8% | +9.4% |
| 2023 | -16.1% | +8.8% |
| 2024 | +0.9% | +18.2% |
| 2025 | +13.9% | +22.0% |
| 2026 | +0.9% | -20.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTD and UHS good diversifiers for each other?
Reasonably. At 0.34, MTD and UHS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MTD and UHS?
Using weekly returns as of 2026-08-27: 0.34 over 3 years, with 0.18 over the last year and 0.38 over 5 years.
Is UHS a good diversifier for MTD?
Reasonably. At 0.34, MTD and UHS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.34 mean?
A reading of 0.34 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/mtd-vs-uhs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mtd-vs-uhs/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MTD correlations · UHS correlations
