AVIR vs IOVA: Correlation
How closely do Atea Pharmaceuticals, Inc. (AVIR) and Iovance Biotherapeutics, Inc. (IOVA) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVIR and IOVA?
Over the past 3 years, AVIR and IOVA moved with a correlation of 0.39, which is moderate. The relationship has been stable: the 1-year correlation (0.41) sits close to the 3-year figure. Over 5 years the correlation is 0.29, and the annualized covariance of weekly returns is 1953.3 %².
By 3-year correlation, IOVA places #7 of the 13 assets tracked against AVIR. The last year tells two different stories: IOVA led by 189.9 percentage points, +51.4% for AVIR against +241.3% for IOVA. One caveat on sizing: IOVA is 2.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
AVIR vs IOVA: side by side
| AVIR (Atea Pharmaceuticals, Inc.) | IOVA (Iovance Biotherapeutics, Inc.) | |
|---|---|---|
| 1-year return | +51.4% | +241.3% |
| 5-year return | -82.1% | -64.9% |
| Volatility (ann.) | 48.3% | 103.2% |
| Beta vs S&P 500 | 0.73 | 1.90 |
| Max drawdown (3Y) | -44.1% | -90.5% |
| Market cap | $0.4B | $3.7B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AVIR | IOVA |
|---|---|---|
| 2022 | -46.2% | -66.5% |
| 2023 | -36.6% | +27.2% |
| 2024 | +9.8% | -9.0% |
| 2025 | +6.6% | -63.1% |
| 2026 | +52.7% | +202.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVIR and IOVA good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AVIR and IOVA?
The AVIR/IOVA correlation stands at 0.39 on a 3-year window (1 year: 0.41, 5 years: 0.29), computed from weekly returns as of 2026-08-27.
Is IOVA a good diversifier for AVIR?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 mean?
On the −1 to +1 scale, 0.39 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/avir-vs-iova.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/avir-vs-iova/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AVIR correlations · IOVA correlations
