IDXX vs TCMD: Correlation
How closely do Idexx Laboratories (IDXX) and Tactile Systems Technology, Inc. (TCMD) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IDXX and TCMD?
Over the past 3 years, IDXX and TCMD moved with a correlation of 0.46, which is moderate. The past 12 months show a tighter link (0.66) than the 3-year average (0.46). Over 5 years the correlation is 0.46, and the annualized covariance of weekly returns is 902.1 %².
By 3-year correlation, TCMD places #19 of the 35 assets tracked against IDXX. The last year tells two different stories: TCMD led by 90.6 percentage points, -14.9% for IDXX against +75.7% for TCMD. One caveat on sizing: TCMD is 2.1 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 TCMD: side by side
| IDXX (Idexx Laboratories) | TCMD (Tactile Systems Technology, Inc.) | |
|---|---|---|
| 1-year return | -14.9% | +75.7% |
| 5-year return | -20.7% | -47.2% |
| Volatility (ann.) | 30.9% | 63.6% |
| Beta vs S&P 500 | 1.01 | 0.87 |
| Max drawdown (3Y) | -37.4% | -51.8% |
| Market cap | $42.9B | $0.5B |
| P/E (trailing) | 38.9 | 22.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | IDXX | TCMD |
|---|---|---|
| 2022 | -38.0% | -39.7% |
| 2023 | +36.1% | +24.6% |
| 2024 | -25.5% | +19.8% |
| 2025 | +63.6% | +69.3% |
| 2026 | -19.4% | -20.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IDXX and TCMD good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between IDXX and TCMD?
Using weekly returns as of 2026-08-27: 0.46 over 3 years, with 0.66 over the last year and 0.46 over 5 years.
Is TCMD a good diversifier for IDXX?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 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-tcmd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/idxx-vs-tcmd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IDXX correlations · TCMD correlations
