MLAB vs TWST: Correlation
Measured on weekly returns over the past three years, Mesa Laboratories, Inc. (MLAB) and Twist Bioscience Corporation (TWST) 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 TWST?
Over the past 3 years, MLAB and TWST moved with a correlation of 0.54, which is moderate. Recent behaviour matches the longer record: 0.57 over 1 year against 0.54 over 3. Over 5 years the correlation is 0.46, and the annualized covariance of weekly returns is 2169.9 %².
Few assets follow MLAB as closely as TWST, which ranks #2 of 12 tracked partners. Correlation aside, the last 12 months split them widely, with TWST ahead by 374.7 points (+88.4% versus +463.1%).
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 TWST: side by side
| MLAB (Mesa Laboratories, Inc.) | TWST (Twist Bioscience Corporation) | |
|---|---|---|
| 1-year return | +88.4% | +463.1% |
| 5-year return | -51.1% | +39.8% |
| Volatility (ann.) | 52.3% | 76.1% |
| Beta vs S&P 500 | 1.12 | 2.21 |
| Max drawdown (3Y) | -62.8% | -59.0% |
| Market cap | $0.7B | $9.6B |
| P/E (trailing) | 151.4 | – |
| Dividend yield | 0.50% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MLAB | TWST |
|---|---|---|
| 2022 | -49.2% | -69.2% |
| 2023 | -36.6% | +54.8% |
| 2024 | +26.6% | +26.1% |
| 2025 | -40.0% | -31.7% |
| 2026 | +64.4% | +382.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MLAB and TWST good diversifiers for each other?
Only partially. A correlation of 0.54 means MLAB and TWST share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between MLAB and TWST?
The MLAB/TWST correlation stands at 0.54 on a 3-year window (1 year: 0.57, 5 years: 0.46), computed from weekly returns as of 2026-08-27.
Is TWST a good diversifier for MLAB?
Only partially. A correlation of 0.54 means MLAB and TWST share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
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
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Related comparisons
Hubs: MLAB correlations · TWST correlations
