IT vs STAA: Correlation
Gartner (IT) and STAAR Surgical Company (STAA) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IT and STAA?
Over the past 3 years, IT and STAA moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.15 over 1 year against -0.23 over 3. Over 5 years the correlation is -0.05, and the annualized covariance of weekly returns is -571.7 %².
STAA is close to the least connected end of IT's tracked universe, ranking #32 of 36. Their 12-month results are close: -20.2% for IT against -18.6% for STAA. Note the risk asymmetry: STAA runs 1.5 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.
IT vs STAA: side by side
| IT (Gartner) | STAA (STAAR Surgical Company) | |
|---|---|---|
| 1-year return | -20.2% | -18.6% |
| 5-year return | -36.0% | -85.0% |
| Volatility (ann.) | 40.6% | 61.9% |
| Beta vs S&P 500 | 0.92 | 0.90 |
| Max drawdown (3Y) | -77.2% | -71.1% |
| Market cap | $12.4B | $1.1B |
| P/E (trailing) | 17.4 | 279.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | IT | STAA |
|---|---|---|
| 2022 | +0.5% | -46.8% |
| 2023 | +34.2% | -35.7% |
| 2024 | +7.4% | -22.2% |
| 2025 | -47.9% | -4.9% |
| 2026 | -22.1% | -3.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IT and STAA good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between IT and STAA?
As of 2026-08-27, the correlation of weekly returns between IT and STAA is -0.23 over 3 years, -0.15 over 1 year and -0.05 over 5 years.
Is STAA a good diversifier for IT?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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.
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Related comparisons
Hubs: IT correlations · STAA correlations
