AZTA vs TNDM: Correlation
How closely do Azenta, Inc. (AZTA) and Tandem Diabetes Care, Inc. (TNDM) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AZTA and TNDM?
On 3 years of weekly data the AZTA/TNDM correlation comes out at 0.41, moderate. Little has changed lately, as the 1-year reading of 0.50 lands near the 3-year figure. The 5-year figure is 0.37, and annualized covariance runs at 1486.2 %².
By 3-year correlation, TNDM places #10 of the 16 assets tracked against AZTA. Their recent paths diverged sharply: over the last 12 months TNDM outperformed by 63.4 percentage points (+11.3% for AZTA against +74.7% for TNDM).
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 TNDM: side by side
| AZTA (Azenta, Inc.) | TNDM (Tandem Diabetes Care, Inc.) | |
|---|---|---|
| 1-year return | +11.3% | +74.7% |
| 5-year return | -60.4% | -80.9% |
| Volatility (ann.) | 51.4% | 71.1% |
| Beta vs S&P 500 | 1.08 | 0.84 |
| Max drawdown (3Y) | -76.3% | -81.1% |
| Market cap | $1.5B | $1.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AZTA | TNDM |
|---|---|---|
| 2022 | -43.5% | -70.1% |
| 2023 | +11.9% | -34.2% |
| 2024 | -23.2% | +21.8% |
| 2025 | -33.5% | -39.0% |
| 2026 | +1.1% | -2.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AZTA and TNDM good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AZTA and TNDM?
The AZTA/TNDM correlation stands at 0.41 on a 3-year window (1 year: 0.50, 5 years: 0.37), computed from weekly returns as of 2026-08-27.
Is TNDM a good diversifier for AZTA?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 mean?
A reading of 0.41 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-tndm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/azta-vs-tndm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AZTA correlations · TNDM correlations
