QTRX vs TECH: Correlation
How closely do Quanterix Corporation (QTRX) and Bio-Techne (TECH) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QTRX and TECH?
Over the past 3 years, QTRX and TECH moved with a correlation of 0.53, which is moderate. Little has changed lately, as the 1-year reading of 0.55 lands near the 3-year figure. Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 1640.0 %².
TECH is one of the assets that tracks QTRX most closely: it ranks #3 out of the 12 assets we track against QTRX. Their recent paths diverged sharply: over the last 12 months TECH outperformed by 72.3 percentage points (-42.7% for QTRX against +29.6% for TECH). Note the risk asymmetry: QTRX runs 1.7 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.
QTRX vs TECH: side by side
| QTRX (Quanterix Corporation) | TECH (Bio-Techne) | |
|---|---|---|
| 1-year return | -42.7% | +29.6% |
| 5-year return | -94.7% | -41.4% |
| Volatility (ann.) | 73.1% | 41.9% |
| Beta vs S&P 500 | 1.18 | 0.90 |
| Max drawdown (3Y) | -91.6% | -48.1% |
| Market cap | $0.1B | $11.4B |
| P/E (trailing) | – | 62.5 |
| Dividend yield | 0.00% | 0.44% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | QTRX | TECH |
|---|---|---|
| 2022 | -67.3% | -35.7% |
| 2023 | +97.4% | -6.5% |
| 2024 | -61.1% | -6.2% |
| 2025 | -40.2% | -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 QTRX and TECH good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between QTRX and TECH?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.55 over the last year and 0.51 over 5 years.
Is TECH a good diversifier for QTRX?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 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/qtrx-vs-tech.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/qtrx-vs-tech/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QTRX correlations · TECH correlations
