NVST vs PROV: Correlation
How closely do Envista Holdings Corporation (NVST) and Provident Financial Holdings, Inc. (PROV) trade together? Their weekly returns over three years give a correlation of 0.35, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVST and PROV?
Across a 3-year window, the weekly returns of NVST and PROV correlate at 0.35, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.18 versus 0.35 over 3 years. Stretching to 5 years gives 0.29, with an annualized covariance of 212.3 %².
Within NVST's tracked universe of 18 assets, PROV comes in at #12 by 3-year correlation. On 12-month performance NVST holds a 5.9-point edge, +29.2% against +23.3%. Risk is not evenly split, since NVST carries 2.1 times the volatility of the other side.
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.
NVST vs PROV: side by side
| NVST (Envista Holdings Corporation) | PROV (Provident Financial Holdings, Inc.) | |
|---|---|---|
| 1-year return | +29.2% | +23.3% |
| 5-year return | -35.8% | +30.9% |
| Volatility (ann.) | 35.4% | 17.1% |
| Beta vs S&P 500 | 0.80 | 0.24 |
| Max drawdown (3Y) | -55.4% | -19.5% |
| Market cap | $4.4B | $0.1B |
| P/E (trailing) | 48.1 | 17.8 |
| Dividend yield | 0.00% | 3.05% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NVST | PROV |
|---|---|---|
| 2022 | -25.3% | -13.5% |
| 2023 | -28.5% | -4.3% |
| 2024 | -19.8% | +31.4% |
| 2025 | +12.5% | +3.7% |
| 2026 | +26.4% | +18.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NVST and PROV good diversifiers for each other?
Reasonably. At 0.35, NVST and PROV keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NVST and PROV?
The NVST/PROV correlation stands at 0.35 on a 3-year window (1 year: 0.18, 5 years: 0.29), computed from weekly returns as of 2026-08-27.
Is PROV a good diversifier for NVST?
Reasonably. At 0.35, NVST and PROV keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.35 mean?
On the −1 to +1 scale, 0.35 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/nvst-vs-prov.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nvst-vs-prov/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NVST correlations · PROV correlations
