BHVN vs IMVT: Correlation
Biohaven Ltd. (BHVN) and Immunovant, Inc. (IMVT) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BHVN and IMVT?
Across a 3-year window, the weekly returns of BHVN and IMVT correlate at 0.54, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.40 versus 0.54 over 3 years. Stretching to 5 years gives 0.58, with an annualized covariance of 3006.7 %².
Few assets follow BHVN as closely as IMVT, which ranks #1 of 10 tracked partners. The last year tells two different stories: IMVT led by 185.4 percentage points, +3.3% for BHVN against +188.7% for IMVT.
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.
BHVN vs IMVT: side by side
| BHVN (Biohaven Ltd.) | IMVT (Immunovant, Inc.) | |
|---|---|---|
| 1-year return | +3.3% | +188.7% |
| 5-year return | n/a | +424.8% |
| Volatility (ann.) | 78.0% | 71.0% |
| Beta vs S&P 500 | 1.60 | 0.89 |
| Max drawdown (3Y) | -87.0% | -69.9% |
| Market cap | $2.4B | $9.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BHVN | IMVT |
|---|---|---|
| 2022 | – | +108.3% |
| 2023 | +208.4% | +137.4% |
| 2024 | -12.7% | -41.2% |
| 2025 | -69.8% | +2.6% |
| 2026 | +42.8% | +72.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BHVN and IMVT good diversifiers for each other?
Only partially. A correlation of 0.54 means BHVN and IMVT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between BHVN and IMVT?
As of 2026-08-27, the correlation of weekly returns between BHVN and IMVT is 0.54 over 3 years, 0.40 over 1 year and 0.58 over 5 years.
Is IMVT a good diversifier for BHVN?
Only partially. A correlation of 0.54 means BHVN and IMVT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.54 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
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Related comparisons
Hubs: BHVN correlations · IMVT correlations
