AVTR vs TECH: Correlation
How closely do Avantor, Inc. (AVTR) and Bio-Techne (TECH) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVTR and TECH?
On 3 years of weekly data the AVTR/TECH correlation comes out at 0.57, moderate. The past 12 months show a tighter link (0.67) than the 3-year average (0.57). The 5-year figure is 0.58, and annualized covariance runs at 1066.9 %².
By 3-year correlation, TECH places #6 of the 14 assets tracked against AVTR. The last year tells two different stories: TECH led by 18.8 percentage points, +10.8% for AVTR against +29.6% for TECH.
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.
AVTR vs TECH: side by side
| AVTR (Avantor, Inc.) | TECH (Bio-Techne) | |
|---|---|---|
| 1-year return | +10.8% | +29.6% |
| 5-year return | -63.4% | -41.4% |
| Volatility (ann.) | 44.6% | 41.9% |
| Beta vs S&P 500 | 0.89 | 0.90 |
| Max drawdown (3Y) | -73.2% | -48.1% |
| Market cap | $9.9B | $11.4B |
| P/E (trailing) | – | 62.5 |
| Dividend yield | 0.00% | 0.44% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | AVTR | TECH |
|---|---|---|
| 2022 | -50.0% | -35.7% |
| 2023 | +8.3% | -6.5% |
| 2024 | -7.7% | -6.2% |
| 2025 | -45.6% | -17.9% |
| 2026 | +27.5% | +23.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVTR and TECH good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AVTR and TECH?
The AVTR/TECH correlation stands at 0.57 on a 3-year window (1 year: 0.67, 5 years: 0.58), computed from weekly returns as of 2026-08-27.
Is TECH a good diversifier for AVTR?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 mean?
A reading of 0.57 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/avtr-vs-tech.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/avtr-vs-tech/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AVTR correlations · TECH correlations
