GFR vs IMVT: Correlation
Measured on weekly returns over the past three years, Greenfire Resources Ltd. (GFR) and Immunovant, Inc. (IMVT) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GFR and IMVT?
Over the past 3 years, GFR and IMVT moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.21) sits close to the 3-year figure. Over 5 years the correlation is -0.18, and the annualized covariance of weekly returns is -873.8 %².
Out of 11 assets tracked against GFR, IMVT lands near the bottom at #10. The last year tells two different stories: IMVT led by 165.7 percentage points, +23.0% for GFR 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.
GFR vs IMVT: side by side
| GFR (Greenfire Resources Ltd.) | IMVT (Immunovant, Inc.) | |
|---|---|---|
| 1-year return | +23.0% | +188.7% |
| 5-year return | -37.0% | +424.8% |
| Volatility (ann.) | 53.7% | 71.0% |
| Beta vs S&P 500 | 0.55 | 0.89 |
| Max drawdown (3Y) | -63.5% | -69.9% |
| Market cap | $0.9B | $9.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GFR | IMVT |
|---|---|---|
| 2022 | +2.7% | +108.3% |
| 2023 | -52.1% | +137.4% |
| 2024 | +45.3% | -41.2% |
| 2025 | -32.6% | +2.6% |
| 2026 | +29.2% | +72.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GFR and IMVT good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GFR and IMVT?
As of 2026-08-27, the correlation of weekly returns between GFR and IMVT is -0.23 over 3 years, -0.21 over 1 year and -0.18 over 5 years.
Is IMVT a good diversifier for GFR?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 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/gfr-vs-imvt.json
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[](https://www.pairbook.io/pair/gfr-vs-imvt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GFR correlations · IMVT correlations
