RVTY vs WAT: Correlation
Revvity (RVTY) and Waters Corporation (WAT) show a strong relationship: their 3-year correlation of weekly returns is 0.68.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RVTY and WAT?
Across a 3-year window, the weekly returns of RVTY and WAT correlate at 0.68, strong. The relationship has been stable: the 1-year correlation (0.74) sits close to the 3-year figure. Stretching to 5 years gives 0.71, with an annualized covariance of 822.5 %².
Few assets follow RVTY as closely as WAT, which ranks #2 of 39 tracked partners. Twelve-month performance is nearly a tie, at +46.8% for RVTY and +43.0% for WAT. On a rolling one-year basis the correlation drifted between 0.51 and 0.84, 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.
RVTY vs WAT: side by side
| RVTY (Revvity) | WAT (Waters Corporation) | |
|---|---|---|
| 1-year return | +46.8% | +43.0% |
| 5-year return | -30.2% | +2.0% |
| Volatility (ann.) | 34.2% | 35.3% |
| Beta vs S&P 500 | 0.81 | 0.89 |
| Max drawdown (3Y) | -35.3% | -33.4% |
| Market cap | $14.5B | $41.4B |
| P/E (trailing) | 62.4 | 105.3 |
| Dividend yield | 0.22% | 0.00% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | RVTY | WAT |
|---|---|---|
| 2022 | -30.1% | -8.1% |
| 2023 | -21.9% | -3.9% |
| 2024 | +2.4% | +12.7% |
| 2025 | -13.1% | +2.4% |
| 2026 | +34.3% | +10.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RVTY and WAT good diversifiers for each other?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between RVTY and WAT?
As of 2026-08-27, the correlation of weekly returns between RVTY and WAT is 0.68 over 3 years, 0.74 over 1 year and 0.71 over 5 years.
Is WAT a good diversifier for RVTY?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.68 mean?
A reading of 0.68 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: RVTY correlations · WAT correlations
