IDXX vs VOO: Correlation
How closely do Idexx Laboratories (IDXX) and Vanguard S&P 500 ETF (VOO) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IDXX and VOO?
On 3 years of weekly data the IDXX/VOO correlation comes out at 0.47, moderate. The link has loosened recently: the 1-year correlation (0.30) runs below the 3-year figure (0.47). The 5-year figure is 0.59, and annualized covariance runs at 210.5 %².
Within IDXX's tracked universe of 35 assets, VOO comes in at #17 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months VOO outperformed by 35.5 percentage points (-14.9% for IDXX against +20.6% for VOO). On a rolling one-year basis the correlation drifted between 0.32 and 0.76, a moderate band. Note the risk asymmetry: IDXX runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 VOO: side by side
| IDXX (Idexx Laboratories) | VOO (Vanguard S&P 500 ETF) | |
|---|---|---|
| 1-year return | -14.9% | +20.6% |
| 5-year return | -20.7% | +83.0% |
| Volatility (ann.) | 30.9% | 14.4% |
| Beta vs S&P 500 | 1.01 | 0.99 |
| Max drawdown (3Y) | -37.4% | -18.7% |
| Market cap | $42.9B | – |
| P/E (trailing) | 38.9 | – |
| Dividend yield | 0.00% | 1.07% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $1,686.9B |
| Sector / category | Health Care | ETF · US Large Cap |
VOO, Vanguard's Large Blend fund, carries $1,686.9B under management, 503 holdings, a 0.03% expense ratio, a 1.07% trailing dividend yield.
Year-by-year returns
| Year | IDXX | VOO |
|---|---|---|
| 2022 | -38.0% | -18.2% |
| 2023 | +36.1% | +26.3% |
| 2024 | -25.5% | +25.0% |
| 2025 | +63.6% | +17.8% |
| 2026 | -19.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
IDXX represents 0.07% of VOO's portfolio, so part of any move in VOO is IDXX itself, and the correlation between them is partly mechanical.
Are IDXX and VOO good diversifiers for each other?
Reasonably. At 0.47, IDXX and VOO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between IDXX and VOO?
The IDXX/VOO correlation stands at 0.47 on a 3-year window (1 year: 0.30, 5 years: 0.59), computed from weekly returns as of 2026-08-27.
Is VOO a good diversifier for IDXX?
Reasonably. At 0.47, IDXX and VOO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 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.
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Related comparisons
Hubs: IDXX correlations · VOO correlations
