SHW vs UHS: Correlation
Sherwin-Williams (SHW) and Universal Health Services (UHS) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SHW and UHS?
Over the past 3 years, SHW and UHS moved with a correlation of 0.54, which is moderate. The link has loosened recently: the 1-year correlation (0.32) runs below the 3-year figure (0.54). Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 409.1 %².
Among the 60 assets we track against SHW, UHS ranks #32 by 3-year correlation. Their 12-month results are close: -5.1% for SHW against -5.0% for UHS. The rolling one-year correlation moved between 0.32 and 0.73 over the past three years, a moderate range.
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.
SHW vs UHS: side by side
| SHW (Sherwin-Williams) | UHS (Universal Health Services) | |
|---|---|---|
| 1-year return | -5.1% | -5.0% |
| 5-year return | +18.3% | +13.5% |
| Volatility (ann.) | 24.6% | 31.1% |
| Beta vs S&P 500 | 0.79 | 0.60 |
| Max drawdown (3Y) | -25.7% | -42.0% |
| Market cap | $83.8B | $10.2B |
| P/E (trailing) | 31.8 | 7.3 |
| Dividend yield | 0.91% | 0.45% |
| Sector / category | Materials | Health Care |
Year-by-year returns
| Year | SHW | UHS |
|---|---|---|
| 2022 | -32.0% | +9.4% |
| 2023 | +32.7% | +8.8% |
| 2024 | +9.9% | +18.2% |
| 2025 | -3.8% | +22.0% |
| 2026 | +7.3% | -20.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SHW and UHS good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between SHW and UHS?
The SHW/UHS correlation stands at 0.54 on a 3-year window (1 year: 0.32, 5 years: 0.44), computed from weekly returns as of 2026-08-27.
Is UHS a good diversifier for SHW?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 mean?
A reading of 0.54 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: SHW correlations · UHS correlations
