TECH vs TWST: Correlation
Bio-Techne (TECH) and Twist Bioscience Corporation (TWST) show a moderate relationship: their 3-year correlation of weekly returns is 0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TECH and TWST?
Over the past 3 years, TECH and TWST moved with a correlation of 0.57, which is moderate. Recent behaviour matches the longer record: 0.57 over 1 year against 0.57 over 3. Over 5 years the correlation is 0.57, and the annualized covariance of weekly returns is 1823.4 %².
Within TECH's tracked universe of 39 assets, TWST comes in at #14 by 3-year correlation. The last year tells two different stories: TWST led by 433.5 percentage points, +29.6% for TECH against +463.1% for TWST. Note the risk asymmetry: TWST runs 1.8 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 TWST: side by side
| TECH (Bio-Techne) | TWST (Twist Bioscience Corporation) | |
|---|---|---|
| 1-year return | +29.6% | +463.1% |
| 5-year return | -41.4% | +39.8% |
| Volatility (ann.) | 41.9% | 76.1% |
| Beta vs S&P 500 | 0.90 | 2.21 |
| Max drawdown (3Y) | -48.1% | -59.0% |
| Market cap | $11.4B | $9.6B |
| P/E (trailing) | 62.5 | – |
| Dividend yield | 0.44% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | TECH | TWST |
|---|---|---|
| 2022 | -35.7% | -69.2% |
| 2023 | -6.5% | +54.8% |
| 2024 | -6.2% | +26.1% |
| 2025 | -17.9% | -31.7% |
| 2026 | +23.8% | +382.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TECH and TWST good diversifiers for each other?
Only partially. A correlation of 0.57 means TECH and TWST 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 TECH and TWST?
As of 2026-08-27, the correlation of weekly returns between TECH and TWST is 0.57 over 3 years, 0.57 over 1 year and 0.57 over 5 years.
Is TWST a good diversifier for TECH?
Only partially. A correlation of 0.57 means TECH and TWST share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.57 mean?
On the −1 to +1 scale, 0.57 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-twst.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/tech-vs-twst/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: TECH correlations · TWST correlations
