PACB vs TECH: Correlation
How closely do Pacific Biosciences of California, Inc. (PACB) and Bio-Techne (TECH) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PACB and TECH?
Over the past 3 years, PACB and TECH moved with a correlation of 0.52, which is moderate. Recent behaviour matches the longer record: 0.60 over 1 year against 0.52 over 3. Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 2018.4 %².
In PACB's tracked universe of 11 assets, TECH sits right near the top at #2. On 12-month performance TECH holds a 13.1-point edge, +16.5% against +29.6%. Note the risk asymmetry: PACB runs 2.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
PACB vs TECH: side by side
| PACB (Pacific Biosciences of California, Inc.) | TECH (Bio-Techne) | |
|---|---|---|
| 1-year return | +16.5% | +29.6% |
| 5-year return | -94.9% | -41.4% |
| Volatility (ann.) | 93.3% | 41.9% |
| Beta vs S&P 500 | 1.21 | 0.90 |
| Max drawdown (3Y) | -92.2% | -48.1% |
| Market cap | $0.5B | $11.4B |
| P/E (trailing) | – | 62.5 |
| Dividend yield | 0.00% | 0.44% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | PACB | TECH |
|---|---|---|
| 2022 | -60.0% | -35.7% |
| 2023 | +19.9% | -6.5% |
| 2024 | -81.3% | -6.2% |
| 2025 | +2.2% | -17.9% |
| 2026 | -17.1% | +23.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PACB and TECH good diversifiers for each other?
Only partially. A correlation of 0.52 means PACB and TECH 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 PACB and TECH?
The PACB/TECH correlation stands at 0.52 on a 3-year window (1 year: 0.60, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is TECH a good diversifier for PACB?
Only partially. A correlation of 0.52 means PACB and TECH share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.52 mean?
A reading of 0.52 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/pacb-vs-tech.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pacb-vs-tech/)
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Related comparisons
Hubs: PACB correlations · TECH correlations
