ILMN vs TMO: Correlation
How closely do Illumina, Inc. (ILMN) and Thermo Fisher Scientific (TMO) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ILMN and TMO?
On 3 years of weekly data the ILMN/TMO correlation comes out at 0.57, moderate. Little has changed lately, as the 1-year reading of 0.59 lands near the 3-year figure. The 5-year figure is 0.56, and annualized covariance runs at 769.3 %².
TMO is one of the assets that tracks ILMN most closely: it ranks #1 out of the 11 assets we track against ILMN. Correlation aside, the last 12 months split them widely, with ILMN ahead by 99.0 points (+128.7% versus +29.7%). Risk is not evenly split, since ILMN carries 1.6 times the volatility of the other side.
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.
ILMN vs TMO: side by side
| ILMN (Illumina, Inc.) | TMO (Thermo Fisher Scientific) | |
|---|---|---|
| 1-year return | +128.7% | +29.7% |
| 5-year return | -48.8% | +14.5% |
| Volatility (ann.) | 45.9% | 29.4% |
| Beta vs S&P 500 | 1.22 | 0.74 |
| Max drawdown (3Y) | -57.1% | -37.3% |
| Market cap | $34.4B | $233.2B |
| P/E (trailing) | 42.0 | 34.1 |
| Dividend yield | 0.00% | 0.28% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | ILMN | TMO |
|---|---|---|
| 2022 | -46.9% | -17.3% |
| 2023 | -31.1% | -3.4% |
| 2024 | -1.3% | -1.7% |
| 2025 | -1.8% | +11.8% |
| 2026 | +73.6% | +9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ILMN and TMO good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ILMN and TMO?
As of 2026-08-27, the correlation of weekly returns between ILMN and TMO is 0.57 over 3 years, 0.59 over 1 year and 0.56 over 5 years.
Is TMO a good diversifier for ILMN?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 mean?
A reading of 0.57 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/ilmn-vs-tmo.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ilmn-vs-tmo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ILMN correlations · TMO correlations
