HBIO vs TXG: Correlation
How closely do Harvard Bioscience, Inc. (HBIO) and 10x Genomics, Inc. (TXG) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HBIO and TXG?
Across a 3-year window, the weekly returns of HBIO and TXG correlate at 0.43, moderate. The past 12 months show a weaker link (0.26) than the 3-year average (0.43). Stretching to 5 years gives 0.33, with an annualized covariance of 2066.7 %².
Few assets follow HBIO as closely as TXG, which ranks #3 of 10 tracked partners. The last year tells two different stories: TXG led by 313.5 percentage points, +49.1% for HBIO against +362.6% for TXG.
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.
HBIO vs TXG: side by side
| HBIO (Harvard Bioscience, Inc.) | TXG (10x Genomics, Inc.) | |
|---|---|---|
| 1-year return | +49.1% | +362.6% |
| 5-year return | -90.4% | -62.7% |
| Volatility (ann.) | 75.4% | 64.3% |
| Beta vs S&P 500 | 1.79 | 1.55 |
| Max drawdown (3Y) | -94.9% | -87.6% |
| Market cap | – | $8.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HBIO | TXG |
|---|---|---|
| 2022 | -60.7% | -75.5% |
| 2023 | +93.1% | +53.6% |
| 2024 | -60.6% | -74.3% |
| 2025 | -68.2% | +13.6% |
| 2026 | +17.9% | +297.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HBIO and TXG good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HBIO and TXG?
As of 2026-08-27, the correlation of weekly returns between HBIO and TXG is 0.43 over 3 years, 0.26 over 1 year and 0.33 over 5 years.
Is TXG a good diversifier for HBIO?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
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Related comparisons
Hubs: HBIO correlations · TXG correlations
