Tax-loss harvesting alternatives for NVST

Among the 11 Health Care Supplies peers screened, ALGN (Align Technology) has tracked NVST most closely over the past year, with a return correlation of 0.70. The strongest fund stand-in is XHE (SPDR S&P Health Care Equipment) at 0.57 over the past year. Correlations are computed from daily closing-price returns aligned by trading day.

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STOCKS

Single-name peers

Ticker	Name	Sub-industry	1Y	3Y	5Y	10Y
ALGN	Align Technology	Health Care Supplies	0.70	0.58	0.56	0.55
XRAY	Dentsply Sirona	Health Care Supplies	0.59	0.59	0.58	0.61
ICUI	ICU Medical	Health Care Supplies	0.46	0.44	0.42	0.38
COO	Cooper Companies (The)	Health Care Supplies	0.43	0.40	0.44	0.47
MMSI	Merit Medical Systems, Inc.	Health Care Supplies	0.42	0.39	0.39	0.38
WST	West Pharmaceutical Services	Health Care Supplies	0.35	0.23	0.28	0.27
NEOG	Neogen	Health Care Supplies	0.31	0.26	0.30	0.31
QDEL	QuidelOrtho	Health Care Supplies	0.29	0.35	0.29	0.19
BLFS	BioLife Solutions, Inc.	Health Care Supplies	0.29	0.37	0.33	0.28
LNTH	Lantheus Holdings	Health Care Supplies	0.08	0.15	0.18	0.28
HAE	Haemonetics	Health Care Supplies	0.01	0.14	0.20	0.26

ETFS

Fund stand-ins

An ETF is generally not 'substantially identical' to a single stock, which is why funds are the standard wash-sale-aware replacement.

Ticker	Name	Focus	Match	1Y	3Y	5Y	10Y
XHE	SPDR S&P Health Care Equipment	Medical Devices (Equal Wt)	SUB-IND	0.57	0.62	0.59	0.61
FHLC	Fidelity MSCI Health Care ETF	Health Care Sector	SECTOR	0.43	0.44	0.45	0.50
VHT	Vanguard Health Care ETF	Health Care Sector	SECTOR	0.43	0.44	0.45	0.50
IHI	iShares Medical Devices ETF	Medical Devices	SUB-IND	0.42	0.48	0.50	0.53
IYH	iShares US Healthcare ETF	Health Care Sector	SECTOR	0.41	0.42	0.43	0.48
XLV	Health Care Select Sector SPDR	Health Care Sector	SECTOR	0.40	0.41	0.41	0.47
XPH	SPDR S&P Pharmaceuticals	Pharmaceuticals (Equal Wt)	INDUSTRY	0.39	0.46	0.46	0.50
IBB	iShares Biotechnology ETF	Biotechnology	INDUSTRY	0.38	0.44	0.42	0.41
IHE	iShares US Pharmaceuticals ETF	Pharmaceuticals	INDUSTRY	0.37	0.39	0.38	0.45
PPH	VanEck Pharma ETF	Pharmaceuticals	INDUSTRY	0.36	0.34	0.37	0.45
XBI	SPDR S&P Biotech ETF	Biotechnology (Equal Wt)	INDUSTRY	0.33	0.39	0.38	0.39
IHF	iShares Health Care Providers	Health Care Providers	INDUSTRY	0.25	0.27	0.32	0.44

NEXT STEPS

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Replacement research for NVST's peers

ALGN XRAY ICUI COO MMSI WST NEOG QDEL BLFS LNTH HAE

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Method: Pearson correlation of daily closing-price returns, Yahoo Finance data, series aligned by trading day, refreshed weekly. A cell is blank when overlapping history covers less than 60% of its window. Correlation is descriptive, not predictive. Wash-sale treatment depends on facts and circumstances — confirm with a tax professional. Not investment advice.