IDXX vs ONT: Correlation
How closely do Idexx Laboratories (IDXX) and Onterris, Inc. (ONT) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IDXX and ONT?
Across a 3-year window, the weekly returns of IDXX and ONT correlate at 0.39, moderate. The past 12 months show a weaker link (0.17) than the 3-year average (0.39). Stretching to 5 years gives 0.42, with an annualized covariance of 769.3 %².
Among the 35 assets we track against IDXX, ONT ranks #24 by 3-year correlation. The last year tells two different stories: IDXX led by 30.7 percentage points, -14.9% for IDXX against -45.6% for ONT. Risk is not evenly split, since ONT carries 2.1 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.
IDXX vs ONT: side by side
| IDXX (Idexx Laboratories) | ONT (Onterris, Inc.) | |
|---|---|---|
| 1-year return | -14.9% | -45.6% |
| 5-year return | -20.7% | -66.3% |
| Volatility (ann.) | 30.9% | 63.4% |
| Beta vs S&P 500 | 1.01 | 1.17 |
| Max drawdown (3Y) | -37.4% | -78.4% |
| Market cap | $42.9B | $0.6B |
| P/E (trailing) | 38.9 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | IDXX | ONT |
|---|---|---|
| 2022 | -38.0% | -37.0% |
| 2023 | +36.1% | -27.6% |
| 2024 | -25.5% | -42.3% |
| 2025 | +63.6% | +33.9% |
| 2026 | -19.4% | -34.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IDXX and ONT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between IDXX and ONT?
Using weekly returns as of 2026-08-27: 0.39 over 3 years, with 0.17 over the last year and 0.42 over 5 years.
Is ONT a good diversifier for IDXX?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.39 mean?
On the −1 to +1 scale, 0.39 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/idxx-vs-ont.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/idxx-vs-ont/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IDXX correlations · ONT correlations
