COO vs MTD: Correlation
Measured on weekly returns over the past three years, Cooper Companies (The) (COO) and Mettler Toledo (MTD) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COO and MTD?
Over the past 3 years, COO and MTD moved with a correlation of 0.51, which is moderate. Little has changed lately, as the 1-year reading of 0.53 lands near the 3-year figure. Over 5 years the correlation is 0.59, and the annualized covariance of weekly returns is 440.3 %².
By 3-year correlation, MTD places #15 of the 38 assets tracked against COO. Over the last 12 months MTD came out ahead by 13.8 percentage points (-4.3% against +9.5%). The rolling one-year correlation moved between 0.39 and 0.76 over the past three years, a moderate range.
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.
COO vs MTD: side by side
| COO (Cooper Companies (The)) | MTD (Mettler Toledo) | |
|---|---|---|
| 1-year return | -4.3% | +9.5% |
| 5-year return | -36.8% | -11.4% |
| Volatility (ann.) | 27.7% | 31.4% |
| Beta vs S&P 500 | 0.69 | 1.00 |
| Max drawdown (3Y) | -47.0% | -36.6% |
| Market cap | – | $28.2B |
| P/E (trailing) | 61.7 | 31.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | COO | MTD |
|---|---|---|
| 2022 | -21.1% | -14.8% |
| 2023 | +14.5% | -16.1% |
| 2024 | -2.8% | +0.9% |
| 2025 | -10.8% | +13.9% |
| 2026 | -13.4% | +0.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COO and MTD good diversifiers for each other?
Only partially. A correlation of 0.51 means COO and MTD 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 COO and MTD?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.53 over the last year and 0.59 over 5 years.
Is MTD a good diversifier for COO?
Only partially. A correlation of 0.51 means COO and MTD share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 mean?
A reading of 0.51 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/coo-vs-mtd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/coo-vs-mtd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: COO correlations · MTD correlations
