DCBO vs IOVA: Correlation
Docebo Inc. (DCBO) and Iovance Biotherapeutics, Inc. (IOVA) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DCBO and IOVA?
Across a 3-year window, the weekly returns of DCBO and IOVA correlate at 0.45, moderate. The link has loosened recently: the 1-year correlation (0.22) runs below the 3-year figure (0.45). Stretching to 5 years gives 0.36, with an annualized covariance of 2130.3 %².
Within DCBO's tracked universe of 12 assets, IOVA comes in at #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months IOVA outperformed by 259.4 percentage points (-18.1% for DCBO against +241.3% for IOVA). Note the risk asymmetry: IOVA runs 2.3 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.
DCBO vs IOVA: side by side
| DCBO (Docebo Inc.) | IOVA (Iovance Biotherapeutics, Inc.) | |
|---|---|---|
| 1-year return | -18.1% | +241.3% |
| 5-year return | -69.8% | -64.9% |
| Volatility (ann.) | 45.4% | 103.2% |
| Beta vs S&P 500 | 1.27 | 1.90 |
| Max drawdown (3Y) | -73.0% | -90.5% |
| Market cap | $0.6B | $3.7B |
| P/E (trailing) | 22.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DCBO | IOVA |
|---|---|---|
| 2022 | -50.8% | -66.5% |
| 2023 | +46.0% | +27.2% |
| 2024 | -7.5% | -9.0% |
| 2025 | -50.4% | -63.1% |
| 2026 | +14.3% | +202.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DCBO and IOVA good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DCBO and IOVA?
As of 2026-08-27, the correlation of weekly returns between DCBO and IOVA is 0.45 over 3 years, 0.22 over 1 year and 0.36 over 5 years.
Is IOVA a good diversifier for DCBO?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 mean?
A reading of 0.45 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/dcbo-vs-iova.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dcbo-vs-iova/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DCBO correlations · IOVA correlations
