ARWR vs IONS: Correlation
How closely do Arrowhead Pharmaceuticals, Inc. (ARWR) and Ionis Pharmaceuticals, Inc. (IONS) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARWR and IONS?
Across a 3-year window, the weekly returns of ARWR and IONS correlate at 0.49, moderate. The past 12 months show a tighter link (0.60) than the 3-year average (0.49). Stretching to 5 years gives 0.43, with an annualized covariance of 1451.7 %².
Within ARWR's tracked universe of 12 assets, IONS comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ARWR ahead by 260.6 points (+306.6% versus +46.0%).
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.
ARWR vs IONS: side by side
| ARWR (Arrowhead Pharmaceuticals, Inc.) | IONS (Ionis Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | +306.6% | +46.0% |
| 5-year return | +32.5% | +59.5% |
| Volatility (ann.) | 65.8% | 44.7% |
| Beta vs S&P 500 | 2.19 | 0.72 |
| Max drawdown (3Y) | -74.7% | -52.4% |
| Market cap | $12.5B | $10.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARWR | IONS |
|---|---|---|
| 2022 | -38.8% | +24.1% |
| 2023 | -24.6% | +33.9% |
| 2024 | -38.6% | -30.9% |
| 2025 | +253.1% | +126.3% |
| 2026 | +33.4% | -21.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARWR and IONS good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ARWR and IONS?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.60 over the last year and 0.43 over 5 years.
Is IONS a good diversifier for ARWR?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.49 mean?
On the −1 to +1 scale, 0.49 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/arwr-vs-ions.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/arwr-vs-ions/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ARWR correlations · IONS correlations
