ILMN vs IQV: Correlation
Measured on weekly returns over the past three years, Illumina, Inc. (ILMN) and IQVIA (IQV) carry a correlation of 0.56, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ILMN and IQV?
On 3 years of weekly data the ILMN/IQV correlation comes out at 0.56, moderate. Recent behaviour matches the longer record: 0.64 over 1 year against 0.56 over 3. The 5-year figure is 0.55, and annualized covariance runs at 977.5 %².
IQV is one of the assets that tracks ILMN most closely: it ranks #2 out of the 11 assets we track against ILMN. Their recent paths diverged sharply: over the last 12 months ILMN outperformed by 89.7 percentage points (+128.7% for ILMN against +39.0% for IQV).
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.
ILMN vs IQV: side by side
| ILMN (Illumina, Inc.) | IQV (IQVIA) | |
|---|---|---|
| 1-year return | +128.7% | +39.0% |
| 5-year return | -48.8% | +0.3% |
| Volatility (ann.) | 45.9% | 37.9% |
| Beta vs S&P 500 | 1.22 | 0.93 |
| Max drawdown (3Y) | -57.1% | -47.1% |
| Market cap | $34.4B | $43.2B |
| P/E (trailing) | 42.0 | 32.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | ILMN | IQV |
|---|---|---|
| 2022 | -46.9% | -27.4% |
| 2023 | -31.1% | +12.9% |
| 2024 | -1.3% | -15.1% |
| 2025 | -1.8% | +14.7% |
| 2026 | +73.6% | +16.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ILMN and IQV good diversifiers for each other?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ILMN and IQV?
Using weekly returns as of 2026-08-27: 0.56 over 3 years, with 0.64 over the last year and 0.55 over 5 years.
Is IQV a good diversifier for ILMN?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.56 mean?
On the −1 to +1 scale, 0.56 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/ilmn-vs-iqv.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ilmn-vs-iqv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ILMN correlations · IQV correlations
