TMO vs TRT: Correlation
Measured on weekly returns over the past three years, Thermo Fisher Scientific (TMO) and Trio-Tech International (TRT) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TMO and TRT?
On 3 years of weekly data the TMO/TRT correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.38) than the 3-year average (-0.25). The 5-year figure is -0.11, and annualized covariance runs at -777.3 %².
Among the 38 assets we track against TMO, TRT sits near the bottom by co-movement, at rank #36. Their recent paths diverged sharply: over the last 12 months TRT outperformed by 265.8 percentage points (+29.7% for TMO against +295.5% for TRT). Note the risk asymmetry: TRT runs 3.7 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.
TMO vs TRT: side by side
| TMO (Thermo Fisher Scientific) | TRT (Trio-Tech International) | |
|---|---|---|
| 1-year return | +29.7% | +295.5% |
| 5-year return | +14.5% | +365.8% |
| Volatility (ann.) | 29.4% | 107.4% |
| Beta vs S&P 500 | 0.74 | 0.18 |
| Max drawdown (3Y) | -37.3% | -54.6% |
| Market cap | $233.2B | – |
| P/E (trailing) | 34.1 | 209.6 |
| Dividend yield | 0.28% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | TMO | TRT |
|---|---|---|
| 2022 | -17.3% | -66.5% |
| 2023 | -3.4% | +12.7% |
| 2024 | -1.7% | +14.6% |
| 2025 | +11.8% | +127.9% |
| 2026 | +9.1% | +58.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TMO and TRT good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between TMO and TRT?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.38 over the last year and -0.11 over 5 years.
Is TRT a good diversifier for TMO?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 mean?
A reading of -0.25 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/tmo-vs-trt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/tmo-vs-trt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: TMO correlations · TRT correlations
