ISRG vs MTD: Correlation
How closely do Intuitive Surgical (ISRG) and Mettler Toledo (MTD) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ISRG and MTD?
Across a 3-year window, the weekly returns of ISRG and MTD correlate at 0.38, moderate. The relationship has been stable: the 1-year correlation (0.40) sits close to the 3-year figure. Stretching to 5 years gives 0.49, with an annualized covariance of 368.7 %².
By 3-year correlation, MTD places #23 of the 36 assets tracked against ISRG. Their recent paths diverged sharply: over the last 12 months MTD outperformed by 31.6 percentage points (-22.1% for ISRG against +9.5% for MTD). The relationship is regime-dependent: the rolling one-year correlation swung between 0.12 and 0.65 over the past three years, so this pair behaves very differently depending on the market environment.
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.
ISRG vs MTD: side by side
| ISRG (Intuitive Surgical) | MTD (Mettler Toledo) | |
|---|---|---|
| 1-year return | -22.1% | +9.5% |
| 5-year return | +4.0% | -11.4% |
| Volatility (ann.) | 31.1% | 31.4% |
| Beta vs S&P 500 | 1.20 | 1.00 |
| Max drawdown (3Y) | -45.6% | -36.6% |
| Market cap | $131.5B | $28.2B |
| P/E (trailing) | 42.5 | 31.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | ISRG | MTD |
|---|---|---|
| 2022 | -26.1% | -14.8% |
| 2023 | +27.1% | -16.1% |
| 2024 | +54.7% | +0.9% |
| 2025 | +8.5% | +13.9% |
| 2026 | -35.2% | +0.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ISRG and MTD good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ISRG and MTD?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.40 over the last year and 0.49 over 5 years.
Is MTD a good diversifier for ISRG?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 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/isrg-vs-mtd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/isrg-vs-mtd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ISRG correlations · MTD correlations
