QDEL vs TECH: Correlation
How closely do QuidelOrtho Corporation (QDEL) and Bio-Techne (TECH) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QDEL and TECH?
Across a 3-year window, the weekly returns of QDEL and TECH correlate at 0.42, moderate. The relationship has been stable: the 1-year correlation (0.45) sits close to the 3-year figure. Stretching to 5 years gives 0.40, with an annualized covariance of 1167.9 %².
Few assets follow QDEL as closely as TECH, which ranks #3 of 10 tracked partners. The last year tells two different stories: TECH led by 74.4 percentage points, -44.8% for QDEL against +29.6% for TECH. Note the risk asymmetry: QDEL runs 1.6 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.
QDEL vs TECH: side by side
| QDEL (QuidelOrtho Corporation) | TECH (Bio-Techne) | |
|---|---|---|
| 1-year return | -44.8% | +29.6% |
| 5-year return | -88.2% | -41.4% |
| Volatility (ann.) | 66.5% | 41.9% |
| Beta vs S&P 500 | 1.10 | 0.90 |
| Max drawdown (3Y) | -88.1% | -48.1% |
| Market cap | $1.1B | $11.4B |
| P/E (trailing) | – | 62.5 |
| Dividend yield | 0.00% | 0.44% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | QDEL | TECH |
|---|---|---|
| 2022 | -36.5% | -35.7% |
| 2023 | -14.0% | -6.5% |
| 2024 | -39.6% | -6.2% |
| 2025 | -35.9% | -17.9% |
| 2026 | -46.4% | +23.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QDEL and TECH good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between QDEL and TECH?
As of 2026-08-27, the correlation of weekly returns between QDEL and TECH is 0.42 over 3 years, 0.45 over 1 year and 0.40 over 5 years.
Is TECH a good diversifier for QDEL?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/qdel-vs-tech.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/qdel-vs-tech/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QDEL correlations · TECH correlations
