QDEL vs ZTS: Correlation
Measured on weekly returns over the past three years, QuidelOrtho Corporation (QDEL) and Zoetis (ZTS) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QDEL and ZTS?
Across a 3-year window, the weekly returns of QDEL and ZTS correlate at 0.42, moderate. The relationship has been stable: the 1-year correlation (0.46) sits close to the 3-year figure. Stretching to 5 years gives 0.38, with an annualized covariance of 843.1 %².
By 3-year correlation, ZTS places #4 of the 10 assets tracked against QDEL. The trailing year gives QDEL the advantage: -44.8% versus -50.8%, a 6.0-point spread. Note the risk asymmetry: QDEL 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.
QDEL vs ZTS: side by side
| QDEL (QuidelOrtho Corporation) | ZTS (Zoetis) | |
|---|---|---|
| 1-year return | -44.8% | -50.8% |
| 5-year return | -88.2% | -61.5% |
| Volatility (ann.) | 66.5% | 30.1% |
| Beta vs S&P 500 | 1.10 | 0.51 |
| Max drawdown (3Y) | -88.1% | -63.0% |
| Market cap | $1.1B | $31.0B |
| P/E (trailing) | – | 12.7 |
| Dividend yield | 0.00% | 2.66% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | QDEL | ZTS |
|---|---|---|
| 2022 | -36.5% | -39.5% |
| 2023 | -14.0% | +35.9% |
| 2024 | -39.6% | -16.6% |
| 2025 | -35.9% | -21.8% |
| 2026 | -46.4% | -39.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QDEL and ZTS good diversifiers for each other?
Reasonably. At 0.42, QDEL and ZTS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QDEL and ZTS?
As of 2026-08-27, the correlation of weekly returns between QDEL and ZTS is 0.42 over 3 years, 0.46 over 1 year and 0.38 over 5 years.
Is ZTS a good diversifier for QDEL?
Reasonably. At 0.42, QDEL and ZTS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 mean?
A reading of 0.42 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/qdel-vs-zts.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qdel-vs-zts/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: QDEL correlations · ZTS correlations
