ICLR vs IQV: Correlation
How closely do ICON plc (ICLR) and IQVIA (IQV) trade together? Their weekly returns over three years give a correlation of 0.75, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ICLR and IQV?
Over the past 3 years, ICLR and IQV moved with a correlation of 0.75, which is strong. The relationship has been stable: the 1-year correlation (0.70) sits close to the 3-year figure. Over 5 years the correlation is 0.77, and the annualized covariance of weekly returns is 1455.4 %².
Few assets follow ICLR as closely as IQV, which ranks #1 of 11 tracked partners. Correlation aside, the last 12 months split them widely, with IQV ahead by 41.5 points (-2.5% versus +39.0%).
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.
ICLR vs IQV: side by side
| ICLR (ICON plc) | IQV (IQVIA) | |
|---|---|---|
| 1-year return | -2.5% | +39.0% |
| 5-year return | -33.7% | +0.3% |
| Volatility (ann.) | 51.4% | 37.9% |
| Beta vs S&P 500 | 1.03 | 0.93 |
| Max drawdown (3Y) | -76.9% | -47.1% |
| Market cap | $13.1B | $43.2B |
| P/E (trailing) | 265.2 | 32.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | ICLR | IQV |
|---|---|---|
| 2022 | -37.3% | -27.4% |
| 2023 | +45.7% | +12.9% |
| 2024 | -25.9% | -15.1% |
| 2025 | -13.1% | +14.7% |
| 2026 | -6.9% | +16.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICLR and IQV good diversifiers for each other?
To a limited degree. At 0.75 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ICLR and IQV?
As of 2026-08-27, the correlation of weekly returns between ICLR and IQV is 0.75 over 3 years, 0.70 over 1 year and 0.77 over 5 years.
Is IQV a good diversifier for ICLR?
To a limited degree. At 0.75 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.75 mean?
On the −1 to +1 scale, 0.75 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/iclr-vs-iqv.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/iclr-vs-iqv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ICLR correlations · IQV correlations
