TECH vs WST: Correlation
How closely do Bio-Techne (TECH) and West Pharmaceutical Services (WST) trade together? Their weekly returns over three years give a correlation of 0.36, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TECH and WST?
Across a 3-year window, the weekly returns of TECH and WST correlate at 0.36, moderate. The relationship has been stable: the 1-year correlation (0.33) sits close to the 3-year figure. Stretching to 5 years gives 0.49, with an annualized covariance of 587.4 %².
Within TECH's tracked universe of 39 assets, WST comes in at #27 by 3-year correlation. The trailing year gives WST the advantage: +29.6% versus +41.1%, a 11.5-point spread. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.02 to 0.62.
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 WST: side by side
| TECH (Bio-Techne) | WST (West Pharmaceutical Services) | |
|---|---|---|
| 1-year return | +29.6% | +41.1% |
| 5-year return | -41.4% | -22.4% |
| Volatility (ann.) | 41.9% | 38.6% |
| Beta vs S&P 500 | 0.90 | 0.86 |
| Max drawdown (3Y) | -48.1% | -53.8% |
| Market cap | $11.4B | $24.4B |
| P/E (trailing) | 62.5 | 44.8 |
| Dividend yield | 0.44% | 0.25% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | TECH | WST |
|---|---|---|
| 2022 | -35.7% | -49.7% |
| 2023 | -6.5% | +50.0% |
| 2024 | -6.2% | -6.8% |
| 2025 | -17.9% | -15.7% |
| 2026 | +23.8% | +26.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TECH and WST good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between TECH and WST?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.33 over the last year and 0.49 over 5 years.
Is WST a good diversifier for TECH?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.36 mean?
On the −1 to +1 scale, 0.36 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-wst.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tech-vs-wst/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: TECH correlations · WST correlations
