NDSN vs STE: Correlation
Measured on weekly returns over the past three years, Nordson Corporation (NDSN) and Steris (STE) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NDSN and STE?
Across a 3-year window, the weekly returns of NDSN and STE correlate at 0.42, moderate. The relationship has been stable: the 1-year correlation (0.35) sits close to the 3-year figure. Stretching to 5 years gives 0.45, with an annualized covariance of 233.5 %².
Among the 39 assets we track against NDSN, STE ranks #29 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NDSN ahead by 54.2 points (+48.5% versus -5.7%). On a rolling one-year basis the correlation drifted between 0.32 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.
NDSN vs STE: side by side
| NDSN (Nordson Corporation) | STE (Steris) | |
|---|---|---|
| 1-year return | +48.5% | -5.7% |
| 5-year return | +46.5% | +13.6% |
| Volatility (ann.) | 24.7% | 22.3% |
| Beta vs S&P 500 | 0.97 | 0.43 |
| Max drawdown (3Y) | -39.1% | -25.4% |
| Market cap | $18.4B | $22.7B |
| P/E (trailing) | 33.5 | 28.5 |
| Dividend yield | 0.98% | 1.06% |
| Sector / category | Industrials | Health Care |
Year-by-year returns
| Year | NDSN | STE |
|---|---|---|
| 2022 | -5.9% | -23.4% |
| 2023 | +12.4% | +20.2% |
| 2024 | -20.1% | -5.6% |
| 2025 | +17.0% | +24.3% |
| 2026 | +38.4% | -7.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NDSN and STE good diversifiers for each other?
Reasonably. At 0.42, NDSN and STE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NDSN and STE?
As of 2026-08-27, the correlation of weekly returns between NDSN and STE is 0.42 over 3 years, 0.35 over 1 year and 0.45 over 5 years.
Is STE a good diversifier for NDSN?
Reasonably. At 0.42, NDSN and STE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 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/ndsn-vs-ste.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ndsn-vs-ste/)
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Related comparisons
Hubs: NDSN correlations · STE correlations
