HWH vs IONS: Correlation
HWH International Inc. (HWH) and Ionis Pharmaceuticals, Inc. (IONS) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HWH and IONS?
Across a 3-year window, the weekly returns of HWH and IONS correlate at 0.44, moderate. The past 12 months show a tighter link (0.66) than the 3-year average (0.44). Stretching to 5 years gives 0.39, with an annualized covariance of 3903.0 %².
Among the 12 assets we track against HWH, IONS ranks #5 by 3-year correlation. Twelve-month performance is nearly a tie, at +41.1% for HWH and +46.0% for IONS. Note the risk asymmetry: HWH runs 4.4 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.
HWH vs IONS: side by side
| HWH (HWH International Inc.) | IONS (Ionis Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | +41.1% | +46.0% |
| 5-year return | -95.9% | +59.5% |
| Volatility (ann.) | 198.9% | 44.7% |
| Beta vs S&P 500 | 0.98 | 0.72 |
| Max drawdown (3Y) | -98.3% | -52.4% |
| Market cap | – | $10.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HWH | IONS |
|---|---|---|
| 2022 | – | +24.1% |
| 2023 | +2.5% | +33.9% |
| 2024 | -93.7% | -30.9% |
| 2025 | -53.8% | +126.3% |
| 2026 | +33.6% | -21.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HWH and IONS good diversifiers for each other?
Reasonably. At 0.44, HWH and IONS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HWH and IONS?
The HWH/IONS correlation stands at 0.44 on a 3-year window (1 year: 0.66, 5 years: 0.39), computed from weekly returns as of 2026-08-27.
Is IONS a good diversifier for HWH?
Reasonably. At 0.44, HWH and IONS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 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/hwh-vs-ions.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hwh-vs-ions/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HWH correlations · IONS correlations
