AZTA vs DHR: Correlation
Measured on weekly returns over the past three years, Azenta, Inc. (AZTA) and Danaher Corporation (DHR) carry a correlation of 0.58, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AZTA and DHR?
Across a 3-year window, the weekly returns of AZTA and DHR correlate at 0.58, moderate. Little has changed lately, as the 1-year reading of 0.61 lands near the 3-year figure. Stretching to 5 years gives 0.53, with an annualized covariance of 875.3 %².
Few assets follow AZTA as closely as DHR, which ranks #3 of 16 tracked partners. The trailing year gives AZTA the advantage: +11.3% versus +6.0%, a 5.3-point spread. One caveat on sizing: AZTA is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
AZTA vs DHR: side by side
| AZTA (Azenta, Inc.) | DHR (Danaher Corporation) | |
|---|---|---|
| 1-year return | +11.3% | +6.0% |
| 5-year return | -60.4% | -23.8% |
| Volatility (ann.) | 51.4% | 29.5% |
| Beta vs S&P 500 | 1.08 | 0.82 |
| Max drawdown (3Y) | -76.3% | -41.7% |
| Market cap | $1.5B | $151.6B |
| P/E (trailing) | – | 38.4 |
| Dividend yield | 0.00% | 0.67% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | AZTA | DHR |
|---|---|---|
| 2022 | -43.5% | -19.0% |
| 2023 | +11.9% | -1.2% |
| 2024 | -23.2% | -0.3% |
| 2025 | -33.5% | +0.4% |
| 2026 | +1.1% | -5.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AZTA and DHR good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AZTA and DHR?
As of 2026-08-27, the correlation of weekly returns between AZTA and DHR is 0.58 over 3 years, 0.61 over 1 year and 0.53 over 5 years.
Is DHR a good diversifier for AZTA?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 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.
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Related comparisons
Hubs: AZTA correlations · DHR correlations
