TKR vs XRAY: Correlation
Measured on weekly returns over the past three years, Timken Company (The) (TKR) and DENTSPLY SIRONA Inc. (XRAY) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TKR and XRAY?
Over the past 3 years, TKR and XRAY moved with a correlation of 0.49, which is moderate. The relationship has been stable: the 1-year correlation (0.47) sits close to the 3-year figure. Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 534.0 %².
Within TKR's tracked universe of 32 assets, XRAY comes in at #23 by 3-year correlation. The last year tells two different stories: TKR led by 80.6 percentage points, +59.8% for TKR against -20.8% for XRAY.
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.
TKR vs XRAY: side by side
| TKR (Timken Company (The)) | XRAY (DENTSPLY SIRONA Inc.) | |
|---|---|---|
| 1-year return | +59.8% | -20.8% |
| 5-year return | +80.3% | -80.0% |
| Volatility (ann.) | 27.4% | 39.4% |
| Beta vs S&P 500 | 0.98 | 0.54 |
| Max drawdown (3Y) | -37.6% | -72.3% |
| Market cap | $8.6B | $2.2B |
| P/E (trailing) | 33.7 | – |
| Dividend yield | 1.12% | 2.93% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TKR | XRAY |
|---|---|---|
| 2022 | +3.9% | -42.1% |
| 2023 | +15.4% | +13.5% |
| 2024 | -9.5% | -45.3% |
| 2025 | +20.0% | -36.8% |
| 2026 | +49.4% | -3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TKR and XRAY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between TKR and XRAY?
As of 2026-08-27, the correlation of weekly returns between TKR and XRAY is 0.49 over 3 years, 0.47 over 1 year and 0.48 over 5 years.
Is XRAY a good diversifier for TKR?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.49 mean?
A reading of 0.49 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/tkr-vs-xray.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/tkr-vs-xray/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TKR correlations · XRAY correlations
