IDYA vs QTRX: Correlation
How closely do IDEAYA Biosciences, Inc. (IDYA) and Quanterix Corporation (QTRX) trade together? Their weekly returns over three years give a correlation of 0.51, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IDYA and QTRX?
Over the past 3 years, IDYA and QTRX moved with a correlation of 0.51, which is moderate. Little has changed lately, as the 1-year reading of 0.49 lands near the 3-year figure. Over 5 years the correlation is 0.38, and the annualized covariance of weekly returns is 1679.1 %².
By 3-year correlation, QTRX places #11 of the 23 assets tracked against IDYA. Correlation aside, the last 12 months split them widely, with IDYA ahead by 109.8 points (+67.1% versus -42.7%). Note the risk asymmetry: QTRX runs 1.6 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 QTRX: side by side
| IDYA (IDEAYA Biosciences, Inc.) | QTRX (Quanterix Corporation) | |
|---|---|---|
| 1-year return | +67.1% | -42.7% |
| 5-year return | +82.5% | -94.7% |
| Volatility (ann.) | 45.3% | 73.1% |
| Beta vs S&P 500 | 1.37 | 1.18 |
| Max drawdown (3Y) | -69.2% | -91.6% |
| Market cap | $4.0B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IDYA | QTRX |
|---|---|---|
| 2022 | -23.1% | -67.3% |
| 2023 | +95.8% | +97.4% |
| 2024 | -27.8% | -61.1% |
| 2025 | +34.5% | -40.2% |
| 2026 | +20.8% | -58.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IDYA and QTRX good diversifiers for each other?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between IDYA and QTRX?
The IDYA/QTRX correlation stands at 0.51 on a 3-year window (1 year: 0.49, 5 years: 0.38), computed from weekly returns as of 2026-08-27.
Is QTRX a good diversifier for IDYA?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.51 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.
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Related comparisons
Hubs: IDYA correlations · QTRX correlations
