ATRA vs IHS: Correlation
How closely do Atara Biotherapeutics, Inc. (ATRA) and IHS Holding Limited (IHS) trade together? Their weekly returns over three years give a correlation of -0.16, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATRA and IHS?
On 3 years of weekly data the ATRA/IHS correlation comes out at -0.16, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.01 versus -0.16 over 3 years. The 5-year figure is -0.02, and annualized covariance runs at -1375.4 %².
Among the 13 assets we track against ATRA, IHS ranks #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with IHS ahead by 40.3 points (-25.1% versus +15.2%). Note the risk asymmetry: ATRA runs 2.8 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.
ATRA vs IHS: side by side
| ATRA (Atara Biotherapeutics, Inc.) | IHS (IHS Holding Limited) | |
|---|---|---|
| 1-year return | -25.1% | +15.2% |
| 5-year return | -97.5% | -51.0% |
| Volatility (ann.) | 153.2% | 55.6% |
| Beta vs S&P 500 | 1.17 | 0.88 |
| Max drawdown (3Y) | -90.7% | -68.7% |
| Market cap | $0.1B | $2.8B |
| P/E (trailing) | – | 5.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ATRA | IHS |
|---|---|---|
| 2022 | -79.2% | -56.4% |
| 2023 | -84.4% | -25.2% |
| 2024 | +3.8% | -36.5% |
| 2025 | +35.9% | +155.5% |
| 2026 | -48.9% | +11.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATRA and IHS 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 ATRA and IHS?
The ATRA/IHS correlation stands at -0.16 on a 3-year window (1 year: 0.01, 5 years: -0.02), computed from weekly returns as of 2026-08-27.
Is IHS a good diversifier for ATRA?
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?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/atra-vs-ihs.json
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Related comparisons
Hubs: ATRA correlations · IHS correlations
