MLAB vs TECH: Correlation
Measured on weekly returns over the past three years, Mesa Laboratories, Inc. (MLAB) and Bio-Techne (TECH) carry a correlation of 0.54, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MLAB and TECH?
On 3 years of weekly data the MLAB/TECH correlation comes out at 0.54, moderate. The relationship has been stable: the 1-year correlation (0.50) sits close to the 3-year figure. The 5-year figure is 0.51, and annualized covariance runs at 1176.9 %².
TECH is one of the assets that tracks MLAB most closely: it ranks #1 out of the 12 assets we track against MLAB. The last year tells two different stories: MLAB led by 58.8 percentage points, +88.4% for MLAB against +29.6% for TECH.
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.
MLAB vs TECH: side by side
| MLAB (Mesa Laboratories, Inc.) | TECH (Bio-Techne) | |
|---|---|---|
| 1-year return | +88.4% | +29.6% |
| 5-year return | -51.1% | -41.4% |
| Volatility (ann.) | 52.3% | 41.9% |
| Beta vs S&P 500 | 1.12 | 0.90 |
| Max drawdown (3Y) | -62.8% | -48.1% |
| Market cap | $0.7B | $11.4B |
| P/E (trailing) | 151.4 | 62.5 |
| Dividend yield | 0.50% | 0.44% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | MLAB | TECH |
|---|---|---|
| 2022 | -49.2% | -35.7% |
| 2023 | -36.6% | -6.5% |
| 2024 | +26.6% | -6.2% |
| 2025 | -40.0% | -17.9% |
| 2026 | +64.4% | +23.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MLAB and TECH good diversifiers for each other?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between MLAB and TECH?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.50 over the last year and 0.51 over 5 years.
Is TECH a good diversifier for MLAB?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.54 mean?
A reading of 0.54 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/mlab-vs-tech.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mlab-vs-tech/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MLAB correlations · TECH correlations
