EOLS vs IOVA: Correlation
Measured on weekly returns over the past three years, Evolus, Inc. (EOLS) and Iovance Biotherapeutics, Inc. (IOVA) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EOLS and IOVA?
On 3 years of weekly data the EOLS/IOVA correlation comes out at 0.45, moderate. Recent behaviour matches the longer record: 0.54 over 1 year against 0.45 over 3. The 5-year figure is 0.33, and annualized covariance runs at 2923.8 %².
In EOLS's tracked universe of 10 assets, IOVA sits right near the top at #2. Their recent paths diverged sharply: over the last 12 months IOVA outperformed by 224.1 percentage points (+17.2% for EOLS against +241.3% for IOVA). One caveat on sizing: IOVA is 1.6 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.
EOLS vs IOVA: side by side
| EOLS (Evolus, Inc.) | IOVA (Iovance Biotherapeutics, Inc.) | |
|---|---|---|
| 1-year return | +17.2% | +241.3% |
| 5-year return | -16.1% | -64.9% |
| Volatility (ann.) | 63.5% | 103.2% |
| Beta vs S&P 500 | 1.06 | 1.90 |
| Max drawdown (3Y) | -77.5% | -90.5% |
| Market cap | $0.6B | $3.7B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EOLS | IOVA |
|---|---|---|
| 2022 | +15.4% | -66.5% |
| 2023 | +40.2% | +27.2% |
| 2024 | +4.8% | -9.0% |
| 2025 | -39.8% | -63.1% |
| 2026 | +33.5% | +202.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EOLS 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 EOLS and IOVA?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.54 over the last year and 0.33 over 5 years.
Is IOVA a good diversifier for EOLS?
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?
On the −1 to +1 scale, 0.45 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/eols-vs-iova.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eols-vs-iova/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EOLS correlations · IOVA correlations
