AZTA vs INSP: Correlation
Measured on weekly returns over the past three years, Azenta, Inc. (AZTA) and Inspire Medical Systems, Inc. (INSP) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AZTA and INSP?
Over the past 3 years, AZTA and INSP moved with a correlation of 0.38, which is moderate. The relationship has been stable: the 1-year correlation (0.47) sits close to the 3-year figure. Over 5 years the correlation is 0.35, and the annualized covariance of weekly returns is 1323.1 %².
Within AZTA's tracked universe of 16 assets, INSP comes in at #11 by 3-year correlation. Correlation aside, the last 12 months split them widely, with AZTA ahead by 45.4 points (+11.3% versus -34.1%).
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 INSP: side by side
| AZTA (Azenta, Inc.) | INSP (Inspire Medical Systems, Inc.) | |
|---|---|---|
| 1-year return | +11.3% | -34.1% |
| 5-year return | -60.4% | -72.6% |
| Volatility (ann.) | 51.4% | 67.2% |
| Beta vs S&P 500 | 1.08 | 0.77 |
| Max drawdown (3Y) | -76.3% | -84.1% |
| Market cap | $1.5B | $1.8B |
| P/E (trailing) | – | 13.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AZTA | INSP |
|---|---|---|
| 2022 | -43.5% | +9.5% |
| 2023 | +11.9% | -19.2% |
| 2024 | -23.2% | -8.9% |
| 2025 | -33.5% | -50.2% |
| 2026 | +1.1% | -34.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AZTA and INSP good diversifiers for each other?
Reasonably. At 0.38, AZTA and INSP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AZTA and INSP?
As of 2026-08-27, the correlation of weekly returns between AZTA and INSP is 0.38 over 3 years, 0.47 over 1 year and 0.35 over 5 years.
Is INSP a good diversifier for AZTA?
Reasonably. At 0.38, AZTA and INSP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.38 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
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Related comparisons
Hubs: AZTA correlations · INSP correlations
