TECH vs ZCMD: Correlation
Bio-Techne (TECH) and Zhongchao Inc. - Class A (ZCMD) show a negative relationship: their 3-year correlation of weekly returns is -0.16.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TECH and ZCMD?
Across a 3-year window, the weekly returns of TECH and ZCMD correlate at -0.16, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.09) sits close to the 3-year figure. Stretching to 5 years gives -0.11, with an annualized covariance of -944.3 %².
Among the 39 assets we track against TECH, ZCMD ranks #32 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TECH outperformed by 129.5 percentage points (+29.6% for TECH against -99.9% for ZCMD). Note the risk asymmetry: ZCMD runs 3.4 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 ZCMD: side by side
| TECH (Bio-Techne) | ZCMD (Zhongchao Inc. - Class A) | |
|---|---|---|
| 1-year return | +29.6% | -99.9% |
| 5-year return | -41.4% | -100.0% |
| Volatility (ann.) | 41.9% | 141.8% |
| Beta vs S&P 500 | 0.90 | 0.59 |
| Max drawdown (3Y) | -48.1% | -100.0% |
| Market cap | $11.4B | – |
| P/E (trailing) | 62.5 | – |
| Dividend yield | 0.44% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | TECH | ZCMD |
|---|---|---|
| 2022 | -35.7% | -35.4% |
| 2023 | -6.5% | -69.5% |
| 2024 | -6.2% | -53.8% |
| 2025 | -17.9% | -72.2% |
| 2026 | +23.8% | -99.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TECH and ZCMD good diversifiers for each other?
By historical standards, yes. A correlation of -0.16 means the two rarely move for the same reasons.
FAQ
What is the correlation between TECH and ZCMD?
As of 2026-08-27, the correlation of weekly returns between TECH and ZCMD is -0.16 over 3 years, -0.09 over 1 year and -0.11 over 5 years.
Is ZCMD a good diversifier for TECH?
By historical standards, yes. A correlation of -0.16 means the two rarely move for the same reasons.
What does a correlation of -0.16 mean?
On the −1 to +1 scale, -0.16 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-zcmd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tech-vs-zcmd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: TECH correlations · ZCMD correlations
