TFX vs ZBH: Correlation
Teleflex Incorporated (TFX) and Zimmer Biomet (ZBH) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TFX and ZBH?
Over the past 3 years, TFX and ZBH moved with a correlation of 0.45, which is moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.45 over 3. Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 391.0 %².
Among the 11 assets we track against TFX, ZBH ranks #5 by 3-year correlation. Over the last 12 months TFX came out ahead by 13.4 percentage points (+7.5% against -5.9%).
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.
TFX vs ZBH: side by side
| TFX (Teleflex Incorporated) | ZBH (Zimmer Biomet) | |
|---|---|---|
| 1-year return | +7.5% | -5.9% |
| 5-year return | -63.6% | -28.6% |
| Volatility (ann.) | 35.0% | 24.9% |
| Beta vs S&P 500 | 0.75 | 0.51 |
| Max drawdown (3Y) | -60.1% | -38.8% |
| Market cap | $5.8B | $19.0B |
| P/E (trailing) | – | 24.6 |
| Dividend yield | 0.98% | 0.95% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | TFX | ZBH |
|---|---|---|
| 2022 | -23.6% | +4.2% |
| 2023 | +0.5% | -3.8% |
| 2024 | -28.2% | -12.5% |
| 2025 | -30.7% | -14.0% |
| 2026 | +13.7% | +11.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TFX and ZBH good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between TFX and ZBH?
As of 2026-08-27, the correlation of weekly returns between TFX and ZBH is 0.45 over 3 years, 0.50 over 1 year and 0.53 over 5 years.
Is ZBH a good diversifier for TFX?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 mean?
A reading of 0.45 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/tfx-vs-zbh.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/tfx-vs-zbh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: TFX correlations · ZBH correlations
