IOVA vs RCEL: Correlation
How closely do Iovance Biotherapeutics, Inc. (IOVA) and Avita Medical, Inc. (RCEL) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IOVA and RCEL?
Across a 3-year window, the weekly returns of IOVA and RCEL correlate at 0.46, moderate. Little has changed lately, as the 1-year reading of 0.53 lands near the 3-year figure. Stretching to 5 years gives 0.37, with an annualized covariance of 4278.2 %².
Among the 14 assets we track against IOVA, RCEL ranks #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months IOVA outperformed by 113.5 percentage points (+241.3% for IOVA against +127.8% for RCEL).
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 RCEL: side by side
| IOVA (Iovance Biotherapeutics, Inc.) | RCEL (Avita Medical, Inc.) | |
|---|---|---|
| 1-year return | +241.3% | +127.8% |
| 5-year return | -64.9% | -48.7% |
| Volatility (ann.) | 103.2% | 91.0% |
| Beta vs S&P 500 | 1.90 | 2.01 |
| Max drawdown (3Y) | -90.5% | -82.1% |
| Market cap | $3.7B | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IOVA | RCEL |
|---|---|---|
| 2022 | -66.5% | -44.9% |
| 2023 | +27.2% | +107.9% |
| 2024 | -9.0% | -6.7% |
| 2025 | -63.1% | -73.0% |
| 2026 | +202.6% | +199.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IOVA and RCEL good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between IOVA and RCEL?
Using weekly returns as of 2026-08-27: 0.46 over 3 years, with 0.53 over the last year and 0.37 over 5 years.
Is RCEL a good diversifier for IOVA?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 mean?
On the −1 to +1 scale, 0.46 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
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Related comparisons
Hubs: IOVA correlations · RCEL correlations
