IDYA vs PRLD: Correlation
How closely do IDEAYA Biosciences, Inc. (IDYA) and Prelude Therapeutics Incorporated (PRLD) trade together? Their weekly returns over three years give a correlation of 0.35, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IDYA and PRLD?
On 3 years of weekly data the IDYA/PRLD correlation comes out at 0.35, moderate. The past 12 months show a weaker link (0.17) than the 3-year average (0.35). The 5-year figure is 0.28, and annualized covariance runs at 1742.7 %².
Among the 23 assets we track against IDYA, PRLD sits near the bottom by co-movement, at rank #20. The last year tells two different stories: PRLD led by 328.2 percentage points, +67.1% for IDYA against +395.3% for PRLD. Note the risk asymmetry: PRLD runs 2.4 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.
IDYA vs PRLD: side by side
| IDYA (IDEAYA Biosciences, Inc.) | PRLD (Prelude Therapeutics Incorporated) | |
|---|---|---|
| 1-year return | +67.1% | +395.3% |
| 5-year return | +82.5% | -82.8% |
| Volatility (ann.) | 45.3% | 109.9% |
| Beta vs S&P 500 | 1.37 | 1.35 |
| Max drawdown (3Y) | -69.2% | -90.4% |
| Market cap | $4.0B | $0.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IDYA | PRLD |
|---|---|---|
| 2022 | -23.1% | -51.5% |
| 2023 | +95.8% | -29.3% |
| 2024 | -27.8% | -70.1% |
| 2025 | +34.5% | +127.5% |
| 2026 | +20.8% | +118.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IDYA and PRLD good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between IDYA and PRLD?
Using weekly returns as of 2026-08-27: 0.35 over 3 years, with 0.17 over the last year and 0.28 over 5 years.
Is PRLD a good diversifier for IDYA?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 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/idya-vs-prld.json
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Related comparisons
Hubs: IDYA correlations · PRLD correlations
