BIO vs TECH: Correlation
How closely do Bio-Rad Laboratories, Inc. (BIO) and Bio-Techne (TECH) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BIO and TECH?
On 3 years of weekly data the BIO/TECH correlation comes out at 0.62, strong. Recent behaviour matches the longer record: 0.65 over 1 year against 0.62 over 3. The 5-year figure is 0.65, and annualized covariance runs at 1000.0 %².
TECH is one of the assets that tracks BIO most closely: it ranks #2 out of the 13 assets we track against BIO. Neither side won the trailing year by much: +33.2% against +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.
BIO vs TECH: side by side
| BIO (Bio-Rad Laboratories, Inc.) | TECH (Bio-Techne) | |
|---|---|---|
| 1-year return | +33.2% | +29.6% |
| 5-year return | -52.1% | -41.4% |
| Volatility (ann.) | 38.4% | 41.9% |
| Beta vs S&P 500 | 0.85 | 0.90 |
| Max drawdown (3Y) | -45.9% | -48.1% |
| Market cap | $10.4B | $11.4B |
| P/E (trailing) | 47.4 | 62.5 |
| Dividend yield | 0.00% | 0.44% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | BIO | TECH |
|---|---|---|
| 2022 | -44.3% | -35.7% |
| 2023 | -23.2% | -6.5% |
| 2024 | +1.7% | -6.2% |
| 2025 | -7.8% | -17.9% |
| 2026 | +28.7% | +23.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BIO and TECH good diversifiers for each other?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BIO and TECH?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.65 over the last year and 0.65 over 5 years.
Is TECH a good diversifier for BIO?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.62 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
$ curl https://www.pairbook.io/api/v1/pairs/bio-vs-tech.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bio-vs-tech/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BIO correlations · TECH correlations
