NEO vs TECH: Correlation
How closely do NeoGenomics, Inc. (NEO) and Bio-Techne (TECH) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NEO and TECH?
Over the past 3 years, NEO and TECH moved with a correlation of 0.44, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.69 versus 0.44 over 3 years. Over 5 years the correlation is 0.46, and the annualized covariance of weekly returns is 1095.6 %².
Few assets follow NEO as closely as TECH, which ranks #3 of 11 tracked partners. Their recent paths diverged sharply: over the last 12 months NEO outperformed by 133.7 percentage points (+163.3% for NEO 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.
NEO vs TECH: side by side
| NEO (NeoGenomics, Inc.) | TECH (Bio-Techne) | |
|---|---|---|
| 1-year return | +163.3% | +29.6% |
| 5-year return | -62.1% | -41.4% |
| Volatility (ann.) | 59.7% | 41.9% |
| Beta vs S&P 500 | 1.17 | 0.90 |
| Max drawdown (3Y) | -76.7% | -48.1% |
| Market cap | $2.4B | $11.4B |
| P/E (trailing) | – | 62.5 |
| Dividend yield | 0.00% | 0.44% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | NEO | TECH |
|---|---|---|
| 2022 | -72.9% | -35.7% |
| 2023 | +75.1% | -6.5% |
| 2024 | +1.9% | -6.2% |
| 2025 | -28.6% | -17.9% |
| 2026 | +58.5% | +23.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NEO and TECH good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NEO and TECH?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.69 over the last year and 0.46 over 5 years.
Is TECH a good diversifier for NEO?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/neo-vs-tech.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/neo-vs-tech/)
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Related comparisons
Hubs: NEO correlations · TECH correlations
