MTD vs TECH: Correlation
Mettler Toledo (MTD) and Bio-Techne (TECH) show a strong relationship: their 3-year correlation of weekly returns is 0.67.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTD and TECH?
Across a 3-year window, the weekly returns of MTD and TECH correlate at 0.67, strong. The past 12 months show a tighter link (0.78) than the 3-year average (0.67). Stretching to 5 years gives 0.70, with an annualized covariance of 883.4 %².
In MTD's tracked universe of 38 assets, TECH sits right near the top at #3. The last year tells two different stories: TECH led by 20.1 percentage points, +9.5% for MTD against +29.6% for TECH. Across three years, the rolling one-year figure varied moderately, from 0.49 to 0.78.
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.
MTD vs TECH: side by side
| MTD (Mettler Toledo) | TECH (Bio-Techne) | |
|---|---|---|
| 1-year return | +9.5% | +29.6% |
| 5-year return | -11.4% | -41.4% |
| Volatility (ann.) | 31.4% | 41.9% |
| Beta vs S&P 500 | 1.00 | 0.90 |
| Max drawdown (3Y) | -36.6% | -48.1% |
| Market cap | $28.2B | $11.4B |
| P/E (trailing) | 31.7 | 62.5 |
| Dividend yield | 0.00% | 0.44% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | MTD | TECH |
|---|---|---|
| 2022 | -14.8% | -35.7% |
| 2023 | -16.1% | -6.5% |
| 2024 | +0.9% | -6.2% |
| 2025 | +13.9% | -17.9% |
| 2026 | +0.9% | +23.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTD and TECH good diversifiers for each other?
To a limited degree. At 0.67 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 MTD and TECH?
As of 2026-08-27, the correlation of weekly returns between MTD and TECH is 0.67 over 3 years, 0.78 over 1 year and 0.70 over 5 years.
Is TECH a good diversifier for MTD?
To a limited degree. At 0.67 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 0.67 mean?
A reading of 0.67 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/mtd-vs-tech.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mtd-vs-tech/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MTD correlations · TECH correlations
