ALNY vs IONS: Correlation
Measured on weekly returns over the past three years, Alnylam Pharmaceuticals, Inc. (ALNY) and Ionis Pharmaceuticals, Inc. (IONS) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALNY and IONS?
Over the past 3 years, ALNY and IONS moved with a correlation of 0.40, which is moderate. Recent behaviour matches the longer record: 0.38 over 1 year against 0.40 over 3. Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 863.5 %².
In ALNY's tracked universe of 11 assets, IONS sits right near the top at #3. Their recent paths diverged sharply: over the last 12 months IONS outperformed by 93.9 percentage points (-47.9% for ALNY against +46.0% for IONS).
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.
ALNY vs IONS: side by side
| ALNY (Alnylam Pharmaceuticals, Inc.) | IONS (Ionis Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | -47.9% | +46.0% |
| 5-year return | +16.2% | +59.5% |
| Volatility (ann.) | 48.5% | 44.7% |
| Beta vs S&P 500 | 0.93 | 0.72 |
| Max drawdown (3Y) | -58.2% | -52.4% |
| Market cap | $31.7B | $10.4B |
| P/E (trailing) | 41.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALNY | IONS |
|---|---|---|
| 2022 | +40.1% | +24.1% |
| 2023 | -19.5% | +33.9% |
| 2024 | +22.9% | -30.9% |
| 2025 | +69.0% | +126.3% |
| 2026 | -40.5% | -21.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALNY and IONS good diversifiers for each other?
Reasonably. At 0.40, ALNY and IONS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ALNY and IONS?
As of 2026-08-27, the correlation of weekly returns between ALNY and IONS is 0.40 over 3 years, 0.38 over 1 year and 0.44 over 5 years.
Is IONS a good diversifier for ALNY?
Reasonably. At 0.40, ALNY and IONS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
A reading of 0.40 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/alny-vs-ions.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/alny-vs-ions/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALNY correlations · IONS correlations
