DGX vs IDA: Correlation
How closely do Quest Diagnostics (DGX) and IDACORP, Inc. (IDA) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGX and IDA?
Over the past 3 years, DGX and IDA moved with a correlation of 0.39, which is moderate. The past 12 months show a tighter link (0.52) than the 3-year average (0.39). Over 5 years the correlation is 0.33, and the annualized covariance of weekly returns is 132.9 %².
By 3-year correlation, IDA places #15 of the 32 assets tracked against DGX. Their recent paths diverged sharply: over the last 12 months DGX outperformed by 26.9 percentage points (+38.5% for DGX against +11.6% for IDA).
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.
DGX vs IDA: side by side
| DGX (Quest Diagnostics) | IDA (IDACORP, Inc.) | |
|---|---|---|
| 1-year return | +38.5% | +11.6% |
| 5-year return | +78.8% | +51.7% |
| Volatility (ann.) | 19.1% | 17.8% |
| Beta vs S&P 500 | 0.09 | 0.10 |
| Max drawdown (3Y) | -12.4% | -13.6% |
| Market cap | $27.0B | $8.0B |
| P/E (trailing) | 26.0 | 22.9 |
| Dividend yield | 1.36% | 2.53% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | DGX | IDA |
|---|---|---|
| 2022 | -7.8% | -2.1% |
| 2023 | -10.1% | -6.0% |
| 2024 | +11.8% | +15.0% |
| 2025 | +17.2% | +19.2% |
| 2026 | +42.8% | +10.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGX and IDA good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DGX and IDA?
As of 2026-08-27, the correlation of weekly returns between DGX and IDA is 0.39 over 3 years, 0.52 over 1 year and 0.33 over 5 years.
Is IDA a good diversifier for DGX?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 mean?
A reading of 0.39 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/dgx-vs-ida.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dgx-vs-ida/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DGX correlations · IDA correlations
