IMUX vs WTW: Correlation
Measured on weekly returns over the past three years, Immunic, Inc. (IMUX) and Willis Towers Watson (WTW) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IMUX and WTW?
Across a 3-year window, the weekly returns of IMUX and WTW correlate at -0.22, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.34 versus -0.22 over 3 years. Stretching to 5 years gives -0.05, with an annualized covariance of -400.0 %².
Out of 13 assets tracked against IMUX, WTW lands near the bottom at #12. Their recent paths diverged sharply: over the last 12 months IMUX outperformed by 86.4 percentage points (+90.6% for IMUX against +4.2% for WTW). Risk is not evenly split, since IMUX carries 3.2 times the volatility of the other side.
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.
IMUX vs WTW: side by side
| IMUX (Immunic, Inc.) | WTW (Willis Towers Watson) | |
|---|---|---|
| 1-year return | +90.6% | +4.2% |
| 5-year return | -83.6% | +68.3% |
| Volatility (ann.) | 76.2% | 23.5% |
| Beta vs S&P 500 | 1.04 | 0.32 |
| Max drawdown (3Y) | -73.8% | -30.4% |
| Market cap | $0.2B | $31.5B |
| P/E (trailing) | – | 21.2 |
| Dividend yield | 0.00% | 0.55% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | IMUX | WTW |
|---|---|---|
| 2022 | -85.4% | +4.5% |
| 2023 | +7.1% | +0.1% |
| 2024 | -33.3% | +31.5% |
| 2025 | -46.6% | +6.1% |
| 2026 | +205.2% | +4.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IMUX and WTW good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between IMUX and WTW?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.34 over the last year and -0.05 over 5 years.
Is WTW a good diversifier for IMUX?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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/imux-vs-wtw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/imux-vs-wtw/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IMUX correlations · WTW correlations
