DH vs LAB: Correlation
Measured on weekly returns over the past three years, Definitive Healthcare Corp. (DH) and Standard BioTools Inc. (LAB) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DH and LAB?
Across a 3-year window, the weekly returns of DH and LAB correlate at 0.44, moderate. The relationship has been stable: the 1-year correlation (0.52) sits close to the 3-year figure. Stretching to 5 years gives 0.38, with an annualized covariance of 1980.2 %².
By 3-year correlation, LAB places #7 of the 14 assets tracked against DH. Correlation aside, the last 12 months split them widely, with LAB ahead by 30.8 points (-79.8% versus -49.0%).
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.
DH vs LAB: side by side
| DH (Definitive Healthcare Corp.) | LAB (Standard BioTools Inc.) | |
|---|---|---|
| 1-year return | -79.8% | -49.0% |
| 5-year return | -98.1% | -90.9% |
| Volatility (ann.) | 65.1% | 69.2% |
| Beta vs S&P 500 | 1.74 | 1.55 |
| Max drawdown (3Y) | -93.9% | -78.7% |
| Market cap | $0.1B | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DH | LAB |
|---|---|---|
| 2022 | -59.8% | -70.2% |
| 2023 | -9.6% | +88.9% |
| 2024 | -58.7% | -20.8% |
| 2025 | -30.2% | -26.9% |
| 2026 | -71.6% | -49.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DH and LAB good diversifiers for each other?
Reasonably. At 0.44, DH and LAB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between DH and LAB?
As of 2026-08-27, the correlation of weekly returns between DH and LAB is 0.44 over 3 years, 0.52 over 1 year and 0.38 over 5 years.
Is LAB a good diversifier for DH?
Reasonably. At 0.44, DH and LAB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 mean?
A reading of 0.44 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/dh-vs-lab.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dh-vs-lab/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DH correlations · LAB correlations
