AZTA vs TECH: Correlation
Measured on weekly returns over the past three years, Azenta, Inc. (AZTA) and Bio-Techne (TECH) carry a correlation of 0.57, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AZTA and TECH?
On 3 years of weekly data the AZTA/TECH correlation comes out at 0.57, moderate. Little has changed lately, as the 1-year reading of 0.58 lands near the 3-year figure. The 5-year figure is 0.56, and annualized covariance runs at 1237.5 %².
By 3-year correlation, TECH places #5 of the 16 assets tracked against AZTA. Correlation aside, the last 12 months split them widely, with TECH ahead by 18.3 points (+11.3% versus +29.6%).
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 TECH: side by side
| AZTA (Azenta, Inc.) | TECH (Bio-Techne) | |
|---|---|---|
| 1-year return | +11.3% | +29.6% |
| 5-year return | -60.4% | -41.4% |
| Volatility (ann.) | 51.4% | 41.9% |
| Beta vs S&P 500 | 1.08 | 0.90 |
| Max drawdown (3Y) | -76.3% | -48.1% |
| Market cap | $1.5B | $11.4B |
| P/E (trailing) | – | 62.5 |
| Dividend yield | 0.00% | 0.44% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | AZTA | TECH |
|---|---|---|
| 2022 | -43.5% | -35.7% |
| 2023 | +11.9% | -6.5% |
| 2024 | -23.2% | -6.2% |
| 2025 | -33.5% | -17.9% |
| 2026 | +1.1% | +23.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AZTA and TECH good diversifiers for each other?
Only partially. A correlation of 0.57 means AZTA and TECH 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 AZTA and TECH?
As of 2026-08-27, the correlation of weekly returns between AZTA and TECH is 0.57 over 3 years, 0.58 over 1 year and 0.56 over 5 years.
Is TECH a good diversifier for AZTA?
Only partially. A correlation of 0.57 means AZTA and TECH share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.57 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/azta-vs-tech.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/azta-vs-tech/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AZTA correlations · TECH correlations
