QDEL vs SHC: Correlation
Measured on weekly returns over the past three years, QuidelOrtho Corporation (QDEL) and Sotera Health Company (SHC) 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 QDEL and SHC?
On 3 years of weekly data the QDEL/SHC correlation comes out at 0.42, moderate. Little has changed lately, as the 1-year reading of 0.43 lands near the 3-year figure. The 5-year figure is 0.16, and annualized covariance runs at 1121.4 %².
In QDEL's tracked universe of 10 assets, SHC sits right near the top at #2. Their recent paths diverged sharply: over the last 12 months SHC outperformed by 62.9 percentage points (-44.8% for QDEL against +18.1% for SHC). Risk is not evenly split, since QDEL carries 1.6 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.
QDEL vs SHC: side by side
| QDEL (QuidelOrtho Corporation) | SHC (Sotera Health Company) | |
|---|---|---|
| 1-year return | -44.8% | +18.1% |
| 5-year return | -88.2% | -21.9% |
| Volatility (ann.) | 66.5% | 40.4% |
| Beta vs S&P 500 | 1.10 | 1.09 |
| Max drawdown (3Y) | -88.1% | -43.5% |
| Market cap | $1.1B | $5.6B |
| P/E (trailing) | – | 34.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | QDEL | SHC |
|---|---|---|
| 2022 | -36.5% | -64.6% |
| 2023 | -14.0% | +102.3% |
| 2024 | -39.6% | -18.8% |
| 2025 | -35.9% | +28.9% |
| 2026 | -46.4% | +10.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QDEL and SHC good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between QDEL and SHC?
As of 2026-08-27, the correlation of weekly returns between QDEL and SHC is 0.42 over 3 years, 0.43 over 1 year and 0.16 over 5 years.
Is SHC a good diversifier for QDEL?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
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/qdel-vs-shc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qdel-vs-shc/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: QDEL correlations · SHC correlations
