A vs MTD: Correlation
Agilent Technologies (A) and Mettler Toledo (MTD) show a strong relationship: their 3-year correlation of weekly returns is 0.73.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are A and MTD?
Over the past 3 years, A and MTD moved with a correlation of 0.73, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.61 versus 0.73 over 3 years. Over 5 years the correlation is 0.77, and the annualized covariance of weekly returns is 712.4 %².
MTD is one of the assets that tracks A most closely: it ranks #3 out of the 33 assets we track against A. The last year tells two different stories: A led by 24.4 percentage points, +33.9% for A against +9.5% for MTD. On a rolling one-year basis the correlation drifted between 0.64 and 0.89, a moderate band.
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.
A vs MTD: side by side
| A (Agilent Technologies) | MTD (Mettler Toledo) | |
|---|---|---|
| 1-year return | +33.9% | +9.5% |
| 5-year return | -7.5% | -11.4% |
| Volatility (ann.) | 31.0% | 31.4% |
| Beta vs S&P 500 | 0.98 | 1.00 |
| Max drawdown (3Y) | -35.3% | -36.6% |
| Market cap | $44.5B | $28.2B |
| P/E (trailing) | 30.6 | 31.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | A | MTD |
|---|---|---|
| 2022 | -5.5% | -14.8% |
| 2023 | -6.4% | -16.1% |
| 2024 | -2.7% | +0.9% |
| 2025 | +1.9% | +13.9% |
| 2026 | +16.6% | +0.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are A and MTD good diversifiers for each other?
Only partially. A correlation of 0.73 means A and MTD 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 A and MTD?
As of 2026-08-27, the correlation of weekly returns between A and MTD is 0.73 over 3 years, 0.61 over 1 year and 0.77 over 5 years.
Is MTD a good diversifier for A?
Only partially. A correlation of 0.73 means A and MTD share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.73 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/a-vs-mtd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/a-vs-mtd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: A correlations · MTD correlations
