DHR vs QTRX: Correlation
Measured on weekly returns over the past three years, Danaher Corporation (DHR) and Quanterix Corporation (QTRX) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DHR and QTRX?
Across a 3-year window, the weekly returns of DHR and QTRX correlate at 0.50, moderate. The relationship has been stable: the 1-year correlation (0.60) sits close to the 3-year figure. Stretching to 5 years gives 0.44, with an annualized covariance of 1083.2 %².
Among the 49 assets we track against DHR, QTRX ranks #24 by 3-year correlation. The last year tells two different stories: DHR led by 48.7 percentage points, +6.0% for DHR against -42.7% for QTRX. One caveat on sizing: QTRX is 2.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
DHR vs QTRX: side by side
| DHR (Danaher Corporation) | QTRX (Quanterix Corporation) | |
|---|---|---|
| 1-year return | +6.0% | -42.7% |
| 5-year return | -23.8% | -94.7% |
| Volatility (ann.) | 29.5% | 73.1% |
| Beta vs S&P 500 | 0.82 | 1.18 |
| Max drawdown (3Y) | -41.7% | -91.6% |
| Market cap | $151.6B | $0.1B |
| P/E (trailing) | 38.4 | – |
| Dividend yield | 0.67% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | DHR | QTRX |
|---|---|---|
| 2022 | -19.0% | -67.3% |
| 2023 | -1.2% | +97.4% |
| 2024 | -0.3% | -61.1% |
| 2025 | +0.4% | -40.2% |
| 2026 | -5.4% | -58.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DHR and QTRX good diversifiers for each other?
Only partially. A correlation of 0.50 means DHR and QTRX 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 DHR and QTRX?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.60 over the last year and 0.44 over 5 years.
Is QTRX a good diversifier for DHR?
Only partially. A correlation of 0.50 means DHR and QTRX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.50 mean?
A reading of 0.50 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: DHR correlations · QTRX correlations
