SGRY vs UHS: Correlation
Measured on weekly returns over the past three years, Surgery Partners, Inc. (SGRY) and Universal Health Services (UHS) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SGRY and UHS?
Over the past 3 years, SGRY and UHS moved with a correlation of 0.44, which is moderate. The past 12 months show a weaker link (0.31) than the 3-year average (0.44). Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 696.6 %².
Among the 14 assets we track against SGRY, UHS ranks #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months UHS outperformed by 34.0 percentage points (-39.0% for SGRY against -5.0% for UHS). One caveat on sizing: SGRY is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
SGRY vs UHS: side by side
| SGRY (Surgery Partners, Inc.) | UHS (Universal Health Services) | |
|---|---|---|
| 1-year return | -39.0% | -5.0% |
| 5-year return | -71.6% | +13.5% |
| Volatility (ann.) | 51.2% | 31.1% |
| Beta vs S&P 500 | 1.30 | 0.60 |
| Max drawdown (3Y) | -69.3% | -42.0% |
| Market cap | $1.8B | $10.2B |
| P/E (trailing) | – | 7.3 |
| Dividend yield | 0.00% | 0.45% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | SGRY | UHS |
|---|---|---|
| 2022 | -47.8% | +9.4% |
| 2023 | +14.8% | +8.8% |
| 2024 | -33.8% | +18.2% |
| 2025 | -27.0% | +22.0% |
| 2026 | -9.8% | -20.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SGRY and UHS good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between SGRY and UHS?
The SGRY/UHS correlation stands at 0.44 on a 3-year window (1 year: 0.31, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is UHS a good diversifier for SGRY?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 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: SGRY correlations · UHS correlations
