TECH vs ZTS: Correlation
How closely do Bio-Techne (TECH) and Zoetis (ZTS) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TECH and ZTS?
On 3 years of weekly data the TECH/ZTS correlation comes out at 0.47, moderate. Little has changed lately, as the 1-year reading of 0.51 lands near the 3-year figure. The 5-year figure is 0.52, and annualized covariance runs at 589.7 %².
By 3-year correlation, ZTS places #21 of the 39 assets tracked against TECH. Correlation aside, the last 12 months split them widely, with TECH ahead by 80.4 points (+29.6% versus -50.8%). On a rolling one-year basis the correlation drifted between 0.33 and 0.61, a moderate band.
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 ZTS: side by side
| TECH (Bio-Techne) | ZTS (Zoetis) | |
|---|---|---|
| 1-year return | +29.6% | -50.8% |
| 5-year return | -41.4% | -61.5% |
| Volatility (ann.) | 41.9% | 30.1% |
| Beta vs S&P 500 | 0.90 | 0.51 |
| Max drawdown (3Y) | -48.1% | -63.0% |
| Market cap | $11.4B | $31.0B |
| P/E (trailing) | 62.5 | 12.7 |
| Dividend yield | 0.44% | 2.66% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | TECH | ZTS |
|---|---|---|
| 2022 | -35.7% | -39.5% |
| 2023 | -6.5% | +35.9% |
| 2024 | -6.2% | -16.6% |
| 2025 | -17.9% | -21.8% |
| 2026 | +23.8% | -39.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TECH and ZTS good diversifiers for each other?
Reasonably. At 0.47, TECH and ZTS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between TECH and ZTS?
The TECH/ZTS correlation stands at 0.47 on a 3-year window (1 year: 0.51, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is ZTS a good diversifier for TECH?
Reasonably. At 0.47, TECH and ZTS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 mean?
On the −1 to +1 scale, 0.47 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-zts.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tech-vs-zts/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: TECH correlations · ZTS correlations
