DHR vs TECH: Correlation
Measured on weekly returns over the past three years, Danaher Corporation (DHR) and Bio-Techne (TECH) carry a correlation of 0.66, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DHR and TECH?
Over the past 3 years, DHR and TECH moved with a correlation of 0.66, which is strong. Lately the two have moved closer together, with the 1-year correlation at 0.79 versus 0.66 over 3 years. Over 5 years the correlation is 0.68, and the annualized covariance of weekly returns is 821.9 %².
By 3-year correlation, TECH places #6 of the 49 assets tracked against DHR. Correlation aside, the last 12 months split them widely, with TECH ahead by 23.6 points (+6.0% versus +29.6%). On a rolling one-year basis the correlation drifted between 0.40 and 0.83, a moderate band.
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 TECH: side by side
| DHR (Danaher Corporation) | TECH (Bio-Techne) | |
|---|---|---|
| 1-year return | +6.0% | +29.6% |
| 5-year return | -23.8% | -41.4% |
| Volatility (ann.) | 29.5% | 41.9% |
| Beta vs S&P 500 | 0.82 | 0.90 |
| Max drawdown (3Y) | -41.7% | -48.1% |
| Market cap | $151.6B | $11.4B |
| P/E (trailing) | 38.4 | 62.5 |
| Dividend yield | 0.67% | 0.44% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | DHR | TECH |
|---|---|---|
| 2022 | -19.0% | -35.7% |
| 2023 | -1.2% | -6.5% |
| 2024 | -0.3% | -6.2% |
| 2025 | +0.4% | -17.9% |
| 2026 | -5.4% | +23.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DHR and TECH good diversifiers for each other?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DHR and TECH?
As of 2026-08-27, the correlation of weekly returns between DHR and TECH is 0.66 over 3 years, 0.79 over 1 year and 0.68 over 5 years.
Is TECH a good diversifier for DHR?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.66 mean?
On the −1 to +1 scale, 0.66 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dhr-vs-tech.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dhr-vs-tech/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DHR correlations · TECH correlations
