ICLR vs LLY: Correlation
ICON plc (ICLR) and Lilly (Eli) (LLY) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ICLR and LLY?
Across a 3-year window, the weekly returns of ICLR and LLY correlate at 0.36, moderate. The relationship has been stable: the 1-year correlation (0.35) sits close to the 3-year figure. Stretching to 5 years gives 0.35, with an annualized covariance of 685.7 %².
Within ICLR's tracked universe of 11 assets, LLY comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with LLY ahead by 63.7 points (-2.5% versus +61.2%).
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 LLY: side by side
| ICLR (ICON plc) | LLY (Lilly (Eli)) | |
|---|---|---|
| 1-year return | -2.5% | +61.2% |
| 5-year return | -33.7% | +369.2% |
| Volatility (ann.) | 51.4% | 36.6% |
| Beta vs S&P 500 | 1.03 | 0.57 |
| Max drawdown (3Y) | -76.9% | -34.5% |
| Market cap | $13.1B | $1,048.8B |
| P/E (trailing) | 265.2 | 40.0 |
| Dividend yield | 0.00% | 0.54% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | ICLR | LLY |
|---|---|---|
| 2022 | -37.3% | +34.3% |
| 2023 | +45.7% | +60.9% |
| 2024 | -25.9% | +33.3% |
| 2025 | -13.1% | +40.2% |
| 2026 | -6.9% | +10.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICLR and LLY good diversifiers for each other?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ICLR and LLY?
As of 2026-08-27, the correlation of weekly returns between ICLR and LLY is 0.36 over 3 years, 0.35 over 1 year and 0.35 over 5 years.
Is LLY a good diversifier for ICLR?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.36 mean?
On the −1 to +1 scale, 0.36 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-lly.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/iclr-vs-lly/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ICLR correlations · LLY correlations
