THC vs UHS: Correlation
Measured on weekly returns over the past three years, Tenet Healthcare Corporation (THC) and Universal Health Services (UHS) carry a correlation of 0.64, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are THC and UHS?
Over the past 3 years, THC and UHS moved with a correlation of 0.64, which is strong. Little has changed lately, as the 1-year reading of 0.59 lands near the 3-year figure. Over 5 years the correlation is 0.66, and the annualized covariance of weekly returns is 864.2 %².
In THC's tracked universe of 12 assets, UHS sits right near the top at #2. Correlation aside, the last 12 months split them widely, with THC ahead by 52.2 points (+47.2% versus -5.0%).
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.
THC vs UHS: side by side
| THC (Tenet Healthcare Corporation) | UHS (Universal Health Services) | |
|---|---|---|
| 1-year return | +47.2% | -5.0% |
| 5-year return | +254.8% | +13.5% |
| Volatility (ann.) | 43.5% | 31.1% |
| Beta vs S&P 500 | 1.01 | 0.60 |
| Max drawdown (3Y) | -34.5% | -42.0% |
| Market cap | $21.6B | $10.2B |
| P/E (trailing) | 10.6 | 7.3 |
| Dividend yield | 0.00% | 0.45% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | THC | UHS |
|---|---|---|
| 2022 | -40.3% | +9.4% |
| 2023 | +54.9% | +8.8% |
| 2024 | +67.0% | +18.2% |
| 2025 | +57.4% | +22.0% |
| 2026 | +34.7% | -20.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are THC and UHS good diversifiers for each other?
Only partially. A correlation of 0.64 means THC and UHS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between THC and UHS?
The THC/UHS correlation stands at 0.64 on a 3-year window (1 year: 0.59, 5 years: 0.66), computed from weekly returns as of 2026-08-27.
Is UHS a good diversifier for THC?
Only partially. A correlation of 0.64 means THC and UHS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.64 mean?
On the −1 to +1 scale, 0.64 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/thc-vs-uhs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/thc-vs-uhs/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: THC correlations · UHS correlations
