IMTX vs RLAY: Correlation
Immatics N.V. (IMTX) and Relay Therapeutics, Inc. (RLAY) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IMTX and RLAY?
On 3 years of weekly data the IMTX/RLAY correlation comes out at 0.51, moderate. Little has changed lately, as the 1-year reading of 0.50 lands near the 3-year figure. The 5-year figure is 0.39, and annualized covariance runs at 2117.0 %².
Within IMTX's tracked universe of 12 assets, RLAY comes in at #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with RLAY ahead by 370.7 points (+73.3% versus +444.0%).
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.
IMTX vs RLAY: side by side
| IMTX (Immatics N.V.) | RLAY (Relay Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +73.3% | +444.0% |
| 5-year return | -25.9% | -35.3% |
| Volatility (ann.) | 57.9% | 71.3% |
| Beta vs S&P 500 | 1.62 | 2.17 |
| Max drawdown (3Y) | -74.1% | -83.4% |
| Market cap | $1.4B | $4.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IMTX | RLAY |
|---|---|---|
| 2022 | -35.2% | -51.4% |
| 2023 | +20.9% | -26.3% |
| 2024 | -32.5% | -62.6% |
| 2025 | +47.7% | +105.3% |
| 2026 | -10.9% | +129.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IMTX and RLAY good diversifiers for each other?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between IMTX and RLAY?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.50 over the last year and 0.39 over 5 years.
Is RLAY a good diversifier for IMTX?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
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: IMTX correlations · RLAY correlations
