ICLR vs MEDP: Correlation
Measured on weekly returns over the past three years, ICON plc (ICLR) and Medpace Holdings, Inc. (MEDP) carry a correlation of 0.68, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ICLR and MEDP?
Over the past 3 years, ICLR and MEDP moved with a correlation of 0.68, which is strong. Recent behaviour matches the longer record: 0.66 over 1 year against 0.68 over 3. Over 5 years the correlation is 0.66, and the annualized covariance of weekly returns is 1614.3 %².
MEDP is one of the assets that tracks ICLR most closely: it ranks #2 out of the 11 assets we track against ICLR. Their recent paths diverged sharply: over the last 12 months MEDP outperformed by 31.7 percentage points (-2.5% for ICLR against +29.2% for MEDP).
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 MEDP: side by side
| ICLR (ICON plc) | MEDP (Medpace Holdings, Inc.) | |
|---|---|---|
| 1-year return | -2.5% | +29.2% |
| 5-year return | -33.7% | +231.5% |
| Volatility (ann.) | 51.4% | 46.4% |
| Beta vs S&P 500 | 1.03 | 1.04 |
| Max drawdown (3Y) | -76.9% | -39.4% |
| Market cap | $13.1B | $17.1B |
| P/E (trailing) | 265.2 | 36.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ICLR | MEDP |
|---|---|---|
| 2022 | -37.3% | -2.4% |
| 2023 | +45.7% | +44.3% |
| 2024 | -25.9% | +8.4% |
| 2025 | -13.1% | +69.1% |
| 2026 | -6.9% | +8.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICLR and MEDP good diversifiers for each other?
Only partially. A correlation of 0.68 means ICLR and MEDP share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ICLR and MEDP?
As of 2026-08-27, the correlation of weekly returns between ICLR and MEDP is 0.68 over 3 years, 0.66 over 1 year and 0.66 over 5 years.
Is MEDP a good diversifier for ICLR?
Only partially. A correlation of 0.68 means ICLR and MEDP share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.68 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/iclr-vs-medp.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/iclr-vs-medp/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ICLR correlations · MEDP correlations
