IDXX vs PED: Correlation
How closely do Idexx Laboratories (IDXX) and Pedevco Corp. (PED) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IDXX and PED?
Across a 3-year window, the weekly returns of IDXX and PED correlate at -0.22, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.54 versus -0.22 over 3 years. Stretching to 5 years gives -0.10, with an annualized covariance of -358.2 %².
PED is close to the least connected end of IDXX's tracked universe, ranking #32 of 35. Correlation aside, the last 12 months split them widely, with PED ahead by 28.0 points (-14.9% versus +13.1%). One caveat on sizing: PED is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 PED: side by side
| IDXX (Idexx Laboratories) | PED (Pedevco Corp.) | |
|---|---|---|
| 1-year return | -14.9% | +13.1% |
| 5-year return | -20.7% | -39.7% |
| Volatility (ann.) | 30.9% | 54.0% |
| Beta vs S&P 500 | 1.01 | -0.28 |
| Max drawdown (3Y) | -37.4% | -58.3% |
| Market cap | $42.9B | $0.2B |
| P/E (trailing) | 38.9 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | IDXX | PED |
|---|---|---|
| 2022 | -38.0% | +3.8% |
| 2023 | +36.1% | -30.0% |
| 2024 | -25.5% | +1.0% |
| 2025 | +63.6% | -28.0% |
| 2026 | -19.4% | +19.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IDXX and PED good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between IDXX and PED?
The IDXX/PED correlation stands at -0.22 on a 3-year window (1 year: -0.54, 5 years: -0.10), computed from weekly returns as of 2026-08-27.
Is PED a good diversifier for IDXX?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
A reading of -0.22 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/idxx-vs-ped.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/idxx-vs-ped/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IDXX correlations · PED correlations
