NVST vs PTLO: Correlation
Measured on weekly returns over the past three years, Envista Holdings Corporation (NVST) and Portillo's Inc. (PTLO) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVST and PTLO?
Across a 3-year window, the weekly returns of NVST and PTLO correlate at 0.41, moderate. Little has changed lately, as the 1-year reading of 0.46 lands near the 3-year figure. Stretching to 5 years gives 0.47, with an annualized covariance of 758.1 %².
Within NVST's tracked universe of 18 assets, PTLO comes in at #10 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NVST ahead by 65.2 points (+29.2% versus -36.0%).
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 PTLO: side by side
| NVST (Envista Holdings Corporation) | PTLO (Portillo's Inc.) | |
|---|---|---|
| 1-year return | +29.2% | -36.0% |
| 5-year return | -35.8% | -84.6% |
| Volatility (ann.) | 35.4% | 52.1% |
| Beta vs S&P 500 | 0.80 | 0.82 |
| Max drawdown (3Y) | -55.4% | -79.5% |
| Market cap | $4.4B | $0.3B |
| P/E (trailing) | 48.1 | 24.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NVST | PTLO |
|---|---|---|
| 2022 | -25.3% | -56.5% |
| 2023 | -28.5% | -2.4% |
| 2024 | -19.8% | -41.0% |
| 2025 | +12.5% | -51.7% |
| 2026 | +26.4% | -1.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NVST and PTLO good diversifiers for each other?
Reasonably. At 0.41, NVST and PTLO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NVST and PTLO?
The NVST/PTLO correlation stands at 0.41 on a 3-year window (1 year: 0.46, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is PTLO a good diversifier for NVST?
Reasonably. At 0.41, NVST and PTLO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: NVST correlations · PTLO correlations
