IDXX vs SHC: Correlation
How closely do Idexx Laboratories (IDXX) and Sotera Health Company (SHC) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IDXX and SHC?
On 3 years of weekly data the IDXX/SHC correlation comes out at 0.53, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.42 versus 0.53 over 3 years. The 5-year figure is 0.36, and annualized covariance runs at 655.6 %².
SHC is one of the assets that tracks IDXX most closely: it ranks #1 out of the 35 assets we track against IDXX. Their recent paths diverged sharply: over the last 12 months SHC outperformed by 33.0 percentage points (-14.9% for IDXX against +18.1% for SHC).
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 SHC: side by side
| IDXX (Idexx Laboratories) | SHC (Sotera Health Company) | |
|---|---|---|
| 1-year return | -14.9% | +18.1% |
| 5-year return | -20.7% | -21.9% |
| Volatility (ann.) | 30.9% | 40.4% |
| Beta vs S&P 500 | 1.01 | 1.09 |
| Max drawdown (3Y) | -37.4% | -43.5% |
| Market cap | $42.9B | $5.6B |
| P/E (trailing) | 38.9 | 34.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | IDXX | SHC |
|---|---|---|
| 2022 | -38.0% | -64.6% |
| 2023 | +36.1% | +102.3% |
| 2024 | -25.5% | -18.8% |
| 2025 | +63.6% | +28.9% |
| 2026 | -19.4% | +10.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IDXX and SHC good diversifiers for each other?
Only partially. A correlation of 0.53 means IDXX and SHC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between IDXX and SHC?
The IDXX/SHC correlation stands at 0.53 on a 3-year window (1 year: 0.42, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is SHC a good diversifier for IDXX?
Only partially. A correlation of 0.53 means IDXX and SHC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.53 mean?
A reading of 0.53 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-shc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/idxx-vs-shc/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IDXX correlations · SHC correlations
