STE vs TCMD: Correlation
Steris (STE) and Tactile Systems Technology, Inc. (TCMD) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are STE and TCMD?
Over the past 3 years, STE and TCMD moved with a correlation of 0.43, which is moderate. The link has tightened recently: the 1-year correlation (0.59) runs above the 3-year figure (0.43). Over 5 years the correlation is 0.38, and the annualized covariance of weekly returns is 613.8 %².
By 3-year correlation, TCMD places #11 of the 33 assets tracked against STE. Correlation aside, the last 12 months split them widely, with TCMD ahead by 81.4 points (-5.7% versus +75.7%). One caveat on sizing: TCMD is 2.9 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.
STE vs TCMD: side by side
| STE (Steris) | TCMD (Tactile Systems Technology, Inc.) | |
|---|---|---|
| 1-year return | -5.7% | +75.7% |
| 5-year return | +13.6% | -47.2% |
| Volatility (ann.) | 22.3% | 63.6% |
| Beta vs S&P 500 | 0.43 | 0.87 |
| Max drawdown (3Y) | -25.4% | -51.8% |
| Market cap | $22.7B | $0.5B |
| P/E (trailing) | 28.5 | 22.0 |
| Dividend yield | 1.06% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | STE | TCMD |
|---|---|---|
| 2022 | -23.4% | -39.7% |
| 2023 | +20.2% | +24.6% |
| 2024 | -5.6% | +19.8% |
| 2025 | +24.3% | +69.3% |
| 2026 | -7.6% | -20.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are STE and TCMD good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between STE and TCMD?
The STE/TCMD correlation stands at 0.43 on a 3-year window (1 year: 0.59, 5 years: 0.38), computed from weekly returns as of 2026-08-27.
Is TCMD a good diversifier for STE?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ste-vs-tcmd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ste-vs-tcmd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: STE correlations · TCMD correlations
