RGEN vs WAT: Correlation
Repligen Corporation (RGEN) and Waters Corporation (WAT) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RGEN and WAT?
Across a 3-year window, the weekly returns of RGEN and WAT correlate at 0.62, strong. Recent behaviour matches the longer record: 0.64 over 1 year against 0.62 over 3. Stretching to 5 years gives 0.59, with an annualized covariance of 1089.5 %².
By 3-year correlation, WAT places #5 of the 17 assets tracked against RGEN. On 12-month performance RGEN holds a 10.1-point edge, +53.1% against +43.0%.
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.
RGEN vs WAT: side by side
| RGEN (Repligen Corporation) | WAT (Waters Corporation) | |
|---|---|---|
| 1-year return | +53.1% | +43.0% |
| 5-year return | -35.6% | +2.0% |
| Volatility (ann.) | 49.5% | 35.3% |
| Beta vs S&P 500 | 1.35 | 0.89 |
| Max drawdown (3Y) | -50.6% | -33.4% |
| Market cap | $10.3B | $41.4B |
| P/E (trailing) | 252.8 | 105.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | RGEN | WAT |
|---|---|---|
| 2022 | -36.1% | -8.1% |
| 2023 | +6.2% | -3.9% |
| 2024 | -19.9% | +12.7% |
| 2025 | +13.8% | +2.4% |
| 2026 | +11.1% | +10.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RGEN and WAT good diversifiers for each other?
Only partially. A correlation of 0.62 means RGEN and WAT 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 RGEN and WAT?
As of 2026-08-27, the correlation of weekly returns between RGEN and WAT is 0.62 over 3 years, 0.64 over 1 year and 0.59 over 5 years.
Is WAT a good diversifier for RGEN?
Only partially. A correlation of 0.62 means RGEN and WAT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.62 mean?
A reading of 0.62 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: RGEN correlations · WAT correlations
