AZTA vs ZTS: Correlation
How closely do Azenta, Inc. (AZTA) and Zoetis (ZTS) trade together? Their weekly returns over three years give a correlation of 0.45, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AZTA and ZTS?
On 3 years of weekly data the AZTA/ZTS correlation comes out at 0.45, moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.45 over 3. The 5-year figure is 0.48, and annualized covariance runs at 691.8 %².
Within AZTA's tracked universe of 16 assets, ZTS comes in at #8 by 3-year correlation. The last year tells two different stories: AZTA led by 62.1 percentage points, +11.3% for AZTA against -50.8% for ZTS. Note the risk asymmetry: AZTA runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 ZTS: side by side
| AZTA (Azenta, Inc.) | ZTS (Zoetis) | |
|---|---|---|
| 1-year return | +11.3% | -50.8% |
| 5-year return | -60.4% | -61.5% |
| Volatility (ann.) | 51.4% | 30.1% |
| Beta vs S&P 500 | 1.08 | 0.51 |
| Max drawdown (3Y) | -76.3% | -63.0% |
| Market cap | $1.5B | $31.0B |
| P/E (trailing) | – | 12.7 |
| Dividend yield | 0.00% | 2.66% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | AZTA | ZTS |
|---|---|---|
| 2022 | -43.5% | -39.5% |
| 2023 | +11.9% | +35.9% |
| 2024 | -23.2% | -16.6% |
| 2025 | -33.5% | -21.8% |
| 2026 | +1.1% | -39.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AZTA and ZTS good diversifiers for each other?
Reasonably. At 0.45, AZTA and ZTS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AZTA and ZTS?
The AZTA/ZTS correlation stands at 0.45 on a 3-year window (1 year: 0.50, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is ZTS a good diversifier for AZTA?
Reasonably. At 0.45, AZTA and ZTS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 mean?
A reading of 0.45 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-zts.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/azta-vs-zts/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AZTA correlations · ZTS correlations
