TECH vs TNDM: Correlation
Measured on weekly returns over the past three years, Bio-Techne (TECH) and Tandem Diabetes Care, Inc. (TNDM) carry a correlation of 0.46, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TECH and TNDM?
Over the past 3 years, TECH and TNDM moved with a correlation of 0.46, which is moderate. Little has changed lately, as the 1-year reading of 0.37 lands near the 3-year figure. Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 1359.4 %².
Among the 39 assets we track against TECH, TNDM ranks #22 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TNDM outperformed by 45.1 percentage points (+29.6% for TECH against +74.7% for TNDM). Note the risk asymmetry: TNDM 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.
TECH vs TNDM: side by side
| TECH (Bio-Techne) | TNDM (Tandem Diabetes Care, Inc.) | |
|---|---|---|
| 1-year return | +29.6% | +74.7% |
| 5-year return | -41.4% | -80.9% |
| Volatility (ann.) | 41.9% | 71.1% |
| Beta vs S&P 500 | 0.90 | 0.84 |
| Max drawdown (3Y) | -48.1% | -81.1% |
| Market cap | $11.4B | $1.5B |
| P/E (trailing) | 62.5 | – |
| Dividend yield | 0.44% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | TECH | TNDM |
|---|---|---|
| 2022 | -35.7% | -70.1% |
| 2023 | -6.5% | -34.2% |
| 2024 | -6.2% | +21.8% |
| 2025 | -17.9% | -39.0% |
| 2026 | +23.8% | -2.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TECH and TNDM good diversifiers for each other?
Reasonably. At 0.46, TECH and TNDM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between TECH and TNDM?
The TECH/TNDM correlation stands at 0.46 on a 3-year window (1 year: 0.37, 5 years: 0.44), computed from weekly returns as of 2026-08-27.
Is TNDM a good diversifier for TECH?
Reasonably. At 0.46, TECH and TNDM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.46 mean?
On the −1 to +1 scale, 0.46 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/tech-vs-tndm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/tech-vs-tndm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: TECH correlations · TNDM correlations
