IOVA vs OCUL: Correlation
Measured on weekly returns over the past three years, Iovance Biotherapeutics, Inc. (IOVA) and Ocular Therapeutix, Inc. (OCUL) carry a correlation of 0.48, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IOVA and OCUL?
Across a 3-year window, the weekly returns of IOVA and OCUL correlate at 0.48, moderate. The past 12 months show a weaker link (0.30) than the 3-year average (0.48). Stretching to 5 years gives 0.38, with an annualized covariance of 3814.6 %².
In IOVA's tracked universe of 14 assets, OCUL sits right near the top at #3. Correlation aside, the last 12 months split them widely, with IOVA ahead by 253.5 points (+241.3% versus -12.2%).
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.
IOVA vs OCUL: side by side
| IOVA (Iovance Biotherapeutics, Inc.) | OCUL (Ocular Therapeutix, Inc.) | |
|---|---|---|
| 1-year return | +241.3% | -12.2% |
| 5-year return | -64.9% | +0.7% |
| Volatility (ann.) | 103.2% | 77.8% |
| Beta vs S&P 500 | 1.90 | 1.80 |
| Max drawdown (3Y) | -90.5% | -61.6% |
| Market cap | $3.7B | $2.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IOVA | OCUL |
|---|---|---|
| 2022 | -66.5% | -59.7% |
| 2023 | +27.2% | +58.7% |
| 2024 | -9.0% | +91.5% |
| 2025 | -63.1% | +42.2% |
| 2026 | +202.6% | -10.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IOVA and OCUL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between IOVA and OCUL?
The IOVA/OCUL correlation stands at 0.48 on a 3-year window (1 year: 0.30, 5 years: 0.38), computed from weekly returns as of 2026-08-27.
Is OCUL a good diversifier for IOVA?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 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/iova-vs-ocul.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/iova-vs-ocul/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IOVA correlations · OCUL correlations
