TOL vs ZBH: Correlation
Toll Brothers, Inc. (TOL) and Zimmer Biomet (ZBH) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TOL and ZBH?
On 3 years of weekly data the TOL/ZBH correlation comes out at 0.47, moderate. Recent behaviour matches the longer record: 0.48 over 1 year against 0.47 over 3. The 5-year figure is 0.46, and annualized covariance runs at 412.0 %².
Within TOL's tracked universe of 35 assets, ZBH comes in at #29 by 3-year correlation. Over the last 12 months TOL came out ahead by 11.9 percentage points (+6.0% 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.
TOL vs ZBH: side by side
| TOL (Toll Brothers, Inc.) | ZBH (Zimmer Biomet) | |
|---|---|---|
| 1-year return | +6.0% | -5.9% |
| 5-year return | +139.9% | -28.6% |
| Volatility (ann.) | 34.9% | 24.9% |
| Beta vs S&P 500 | 1.14 | 0.51 |
| Max drawdown (3Y) | -46.0% | -38.8% |
| Market cap | $13.4B | $19.0B |
| P/E (trailing) | 11.9 | 24.6 |
| Dividend yield | 0.69% | 0.95% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | TOL | ZBH |
|---|---|---|
| 2022 | -30.0% | +4.2% |
| 2023 | +108.6% | -3.8% |
| 2024 | +23.4% | -12.5% |
| 2025 | +8.3% | -14.0% |
| 2026 | +7.9% | +11.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TOL and ZBH good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between TOL and ZBH?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.48 over the last year and 0.46 over 5 years.
Is ZBH a good diversifier for TOL?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 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/tol-vs-zbh.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/tol-vs-zbh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: TOL correlations · ZBH correlations
