ELAN vs IDXX: Correlation
Elanco Animal Health Incorporated (ELAN) and Idexx Laboratories (IDXX) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELAN and IDXX?
On 3 years of weekly data the ELAN/IDXX correlation comes out at 0.47, moderate. The link has loosened recently: the 1-year correlation (0.32) runs below the 3-year figure (0.47). The 5-year figure is 0.48, and annualized covariance runs at 652.8 %².
IDXX is one of the assets that tracks ELAN most closely: it ranks #3 out of the 11 assets we track against ELAN. The last year tells two different stories: ELAN led by 47.3 percentage points, +32.4% for ELAN against -14.9% for IDXX.
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.
ELAN vs IDXX: side by side
| ELAN (Elanco Animal Health Incorporated) | IDXX (Idexx Laboratories) | |
|---|---|---|
| 1-year return | +32.4% | -14.9% |
| 5-year return | -26.8% | -20.7% |
| Volatility (ann.) | 44.8% | 30.9% |
| Beta vs S&P 500 | 1.18 | 1.01 |
| Max drawdown (3Y) | -56.1% | -37.4% |
| Market cap | $12.2B | $42.9B |
| P/E (trailing) | – | 38.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | ELAN | IDXX |
|---|---|---|
| 2022 | -56.9% | -38.0% |
| 2023 | +21.9% | +36.1% |
| 2024 | -18.7% | -25.5% |
| 2025 | +86.9% | +63.6% |
| 2026 | +8.2% | -19.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELAN and IDXX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ELAN and IDXX?
As of 2026-08-27, the correlation of weekly returns between ELAN and IDXX is 0.47 over 3 years, 0.32 over 1 year and 0.48 over 5 years.
Is IDXX a good diversifier for ELAN?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 mean?
A reading of 0.47 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/elan-vs-idxx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/elan-vs-idxx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ELAN correlations · IDXX correlations
