IDXX vs STE: Correlation
Idexx Laboratories (IDXX) and Steris (STE) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IDXX and STE?
Across a 3-year window, the weekly returns of IDXX and STE correlate at 0.50, moderate. The past 12 months show a tighter link (0.67) than the 3-year average (0.50). Stretching to 5 years gives 0.54, with an annualized covariance of 345.1 %².
Within IDXX's tracked universe of 35 assets, STE comes in at #7 by 3-year correlation. On 12-month performance STE holds a 9.2-point edge, -14.9% against -5.7%. The rolling one-year correlation moved between 0.29 and 0.69 over the past three years, a moderate range.
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 STE: side by side
| IDXX (Idexx Laboratories) | STE (Steris) | |
|---|---|---|
| 1-year return | -14.9% | -5.7% |
| 5-year return | -20.7% | +13.6% |
| Volatility (ann.) | 30.9% | 22.3% |
| Beta vs S&P 500 | 1.01 | 0.43 |
| Max drawdown (3Y) | -37.4% | -25.4% |
| Market cap | $42.9B | $22.7B |
| P/E (trailing) | 38.9 | 28.5 |
| Dividend yield | 0.00% | 1.06% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | IDXX | STE |
|---|---|---|
| 2022 | -38.0% | -23.4% |
| 2023 | +36.1% | +20.2% |
| 2024 | -25.5% | -5.6% |
| 2025 | +63.6% | +24.3% |
| 2026 | -19.4% | -7.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IDXX and STE good diversifiers for each other?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between IDXX and STE?
The IDXX/STE correlation stands at 0.50 on a 3-year window (1 year: 0.67, 5 years: 0.54), computed from weekly returns as of 2026-08-27.
Is STE a good diversifier for IDXX?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.50 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
$ curl https://www.pairbook.io/api/v1/pairs/idxx-vs-ste.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/idxx-vs-ste/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IDXX correlations · STE correlations
