INCY vs TECH: Correlation
Measured on weekly returns over the past three years, Incyte (INCY) and Bio-Techne (TECH) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INCY and TECH?
Over the past 3 years, INCY and TECH moved with a correlation of 0.43, which is moderate. Recent behaviour matches the longer record: 0.46 over 1 year against 0.43 over 3. Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 593.2 %².
Among the 35 assets we track against INCY, TECH ranks #16 by 3-year correlation. Correlation aside, the last 12 months split them widely, with INCY ahead by 21.0 points (+50.6% versus +29.6%). Across three years, the rolling one-year figure varied moderately, from 0.14 to 0.54.
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.
INCY vs TECH: side by side
| INCY (Incyte) | TECH (Bio-Techne) | |
|---|---|---|
| 1-year return | +50.6% | +29.6% |
| 5-year return | +68.0% | -41.4% |
| Volatility (ann.) | 33.1% | 41.9% |
| Beta vs S&P 500 | 0.45 | 0.90 |
| Max drawdown (3Y) | -33.8% | -48.1% |
| Market cap | $25.9B | $11.4B |
| P/E (trailing) | 16.3 | 62.5 |
| Dividend yield | 0.00% | 0.44% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | INCY | TECH |
|---|---|---|
| 2022 | +9.4% | -35.7% |
| 2023 | -21.8% | -6.5% |
| 2024 | +10.0% | -6.2% |
| 2025 | +43.0% | -17.9% |
| 2026 | +29.3% | +23.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INCY and TECH good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between INCY and TECH?
As of 2026-08-27, the correlation of weekly returns between INCY and TECH is 0.43 over 3 years, 0.46 over 1 year and 0.36 over 5 years.
Is TECH a good diversifier for INCY?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 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: INCY correlations · TECH correlations
