LH vs TRT: Correlation
How closely do Labcorp (LH) and Trio-Tech International (TRT) trade together? Their weekly returns over three years give a correlation of -0.18, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LH and TRT?
Across a 3-year window, the weekly returns of LH and TRT correlate at -0.18, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.29) than the 3-year average (-0.18). Stretching to 5 years gives -0.07, with an annualized covariance of -424.2 %².
Within LH's tracked universe of 34 assets, TRT comes in at #29 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TRT outperformed by 273.7 percentage points (+21.8% for LH against +295.5% for TRT). Risk is not evenly split, since TRT carries 5.0 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.
LH vs TRT: side by side
| LH (Labcorp) | TRT (Trio-Tech International) | |
|---|---|---|
| 1-year return | +21.8% | +295.5% |
| 5-year return | +36.0% | +365.8% |
| Volatility (ann.) | 21.4% | 107.4% |
| Beta vs S&P 500 | 0.33 | 0.18 |
| Max drawdown (3Y) | -17.4% | -54.6% |
| Market cap | $27.3B | – |
| P/E (trailing) | 27.8 | 209.6 |
| Dividend yield | 0.86% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | LH | TRT |
|---|---|---|
| 2022 | -24.4% | -66.5% |
| 2023 | +13.8% | +12.7% |
| 2024 | +2.2% | +14.6% |
| 2025 | +10.6% | +127.9% |
| 2026 | +34.8% | +58.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LH and TRT good diversifiers for each other?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between LH and TRT?
The LH/TRT correlation stands at -0.18 on a 3-year window (1 year: -0.29, 5 years: -0.07), computed from weekly returns as of 2026-08-27.
Is TRT a good diversifier for LH?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
What does a correlation of -0.18 mean?
A reading of -0.18 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/lh-vs-trt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/lh-vs-trt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LH correlations · TRT correlations
