ENGN vs IDXX: Correlation
Measured on weekly returns over the past three years, enGene Therapeutics Inc. (ENGN) and Idexx Laboratories (IDXX) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENGN and IDXX?
On 3 years of weekly data the ENGN/IDXX correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.01) runs above the 3-year figure (-0.19). The 5-year figure is -0.14, and annualized covariance runs at -939.3 %².
Within ENGN's tracked universe of 35 assets, IDXX comes in at #15 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months IDXX outperformed by 41.1 percentage points (-56.0% for ENGN against -14.9% for IDXX). Risk is not evenly split, since ENGN carries 5.1 times the volatility of the other side.
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.
ENGN vs IDXX: side by side
| ENGN (enGene Therapeutics Inc.) | IDXX (Idexx Laboratories) | |
|---|---|---|
| 1-year return | -56.0% | -14.9% |
| 5-year return | -80.6% | -20.7% |
| Volatility (ann.) | 156.3% | 30.9% |
| Beta vs S&P 500 | -0.97 | 1.01 |
| Max drawdown (3Y) | -94.9% | -37.4% |
| Market cap | $0.1B | $42.9B |
| P/E (trailing) | – | 38.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | ENGN | IDXX |
|---|---|---|
| 2022 | – | -38.0% |
| 2023 | -10.6% | +36.1% |
| 2024 | -28.0% | -25.5% |
| 2025 | +35.8% | +63.6% |
| 2026 | -78.8% | -19.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENGN and IDXX good diversifiers for each other?
Yes. With a correlation of -0.19, ENGN and IDXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ENGN and IDXX?
As of 2026-08-27, the correlation of weekly returns between ENGN and IDXX is -0.19 over 3 years, 0.01 over 1 year and -0.14 over 5 years.
Is IDXX a good diversifier for ENGN?
Yes. With a correlation of -0.19, ENGN and IDXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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/engn-vs-idxx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/engn-vs-idxx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ENGN correlations · IDXX correlations
