STE vs SYK: Correlation
How closely do Steris (STE) and Stryker Corporation (SYK) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are STE and SYK?
On 3 years of weekly data the STE/SYK correlation comes out at 0.46, moderate. Recent behaviour matches the longer record: 0.52 over 1 year against 0.46 over 3. The 5-year figure is 0.59, and annualized covariance runs at 220.5 %².
Among the 33 assets we track against STE, SYK ranks #6 by 3-year correlation. The trailing year gives STE the advantage: -5.7% versus -17.2%, a 11.5-point spread. On a rolling one-year basis the correlation drifted between 0.28 and 0.69, 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.
STE vs SYK: side by side
| STE (Steris) | SYK (Stryker Corporation) | |
|---|---|---|
| 1-year return | -5.7% | -17.2% |
| 5-year return | +13.6% | +23.8% |
| Volatility (ann.) | 22.3% | 21.5% |
| Beta vs S&P 500 | 0.43 | 0.61 |
| Max drawdown (3Y) | -25.4% | -29.4% |
| Market cap | $22.7B | $123.6B |
| P/E (trailing) | 28.5 | 34.1 |
| Dividend yield | 1.06% | 1.06% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | STE | SYK |
|---|---|---|
| 2022 | -23.4% | -7.4% |
| 2023 | +20.2% | +23.8% |
| 2024 | -5.6% | +21.3% |
| 2025 | +24.3% | -1.5% |
| 2026 | -7.6% | -7.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are STE and SYK good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between STE and SYK?
As of 2026-08-27, the correlation of weekly returns between STE and SYK is 0.46 over 3 years, 0.52 over 1 year and 0.59 over 5 years.
Is SYK a good diversifier for STE?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 mean?
On the −1 to +1 scale, 0.46 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/ste-vs-syk.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ste-vs-syk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: STE correlations · SYK correlations
