A vs TMO: Correlation
How closely do Agilent Technologies (A) and Thermo Fisher Scientific (TMO) trade together? Their weekly returns over three years give a correlation of 0.76, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are A and TMO?
On 3 years of weekly data the A/TMO correlation comes out at 0.76, strong. Little has changed lately, as the 1-year reading of 0.80 lands near the 3-year figure. The 5-year figure is 0.77, and annualized covariance runs at 693.1 %².
Few assets follow A as closely as TMO, which ranks #1 of 33 tracked partners. Their 12-month results are close: +33.9% for A against +29.7% for TMO. Stability stands out here, with the rolling one-year correlation confined to 0.61 through 0.83.
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 TMO: side by side
| A (Agilent Technologies) | TMO (Thermo Fisher Scientific) | |
|---|---|---|
| 1-year return | +33.9% | +29.7% |
| 5-year return | -7.5% | +14.5% |
| Volatility (ann.) | 31.0% | 29.4% |
| Beta vs S&P 500 | 0.98 | 0.74 |
| Max drawdown (3Y) | -35.3% | -37.3% |
| Market cap | $44.5B | $233.2B |
| P/E (trailing) | 30.6 | 34.1 |
| Dividend yield | 0.00% | 0.28% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | A | TMO |
|---|---|---|
| 2022 | -5.5% | -17.3% |
| 2023 | -6.4% | -3.4% |
| 2024 | -2.7% | -1.7% |
| 2025 | +1.9% | +11.8% |
| 2026 | +16.6% | +9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are A and TMO good diversifiers for each other?
Somewhat, no more. With 0.76 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between A and TMO?
Using weekly returns as of 2026-08-27: 0.76 over 3 years, with 0.80 over the last year and 0.77 over 5 years.
Is TMO a good diversifier for A?
Somewhat, no more. With 0.76 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.76 mean?
On the −1 to +1 scale, 0.76 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/a-vs-tmo.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/a-vs-tmo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: A correlations · TMO correlations
