IQV vs TRT: Correlation
How closely do IQVIA (IQV) and Trio-Tech International (TRT) trade together? Their weekly returns over three years give a correlation of -0.15, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IQV and TRT?
On 3 years of weekly data the IQV/TRT correlation comes out at -0.15, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.29) runs below the 3-year figure (-0.15). The 5-year figure is -0.01, and annualized covariance runs at -620.2 %².
Within IQV's tracked universe of 37 assets, TRT comes in at #28 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TRT outperformed by 256.5 percentage points (+39.0% for IQV against +295.5% for TRT). Risk is not evenly split, since TRT carries 2.8 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.
IQV vs TRT: side by side
| IQV (IQVIA) | TRT (Trio-Tech International) | |
|---|---|---|
| 1-year return | +39.0% | +295.5% |
| 5-year return | +0.3% | +365.8% |
| Volatility (ann.) | 37.9% | 107.4% |
| Beta vs S&P 500 | 0.93 | 0.18 |
| Max drawdown (3Y) | -47.1% | -54.6% |
| Market cap | $43.2B | – |
| P/E (trailing) | 32.6 | 209.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | IQV | TRT |
|---|---|---|
| 2022 | -27.4% | -66.5% |
| 2023 | +12.9% | +12.7% |
| 2024 | -15.1% | +14.6% |
| 2025 | +14.7% | +127.9% |
| 2026 | +16.4% | +58.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IQV and TRT good diversifiers for each other?
Yes: at -0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between IQV and TRT?
As of 2026-08-27, the correlation of weekly returns between IQV and TRT is -0.15 over 3 years, -0.29 over 1 year and -0.01 over 5 years.
Is TRT a good diversifier for IQV?
Yes: at -0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.15 mean?
On the −1 to +1 scale, -0.15 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/iqv-vs-trt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/iqv-vs-trt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IQV correlations · TRT correlations
