IQV vs MRNA: Correlation
IQVIA (IQV) and Moderna (MRNA) show a moderate relationship: their 3-year correlation of weekly returns is 0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IQV and MRNA?
Across a 3-year window, the weekly returns of IQV and MRNA correlate at 0.33, moderate. Little has changed lately, as the 1-year reading of 0.31 lands near the 3-year figure. Stretching to 5 years gives 0.35, with an annualized covariance of 1262.8 %².
By 3-year correlation, MRNA places #26 of the 37 assets tracked against IQV. Their recent paths diverged sharply: over the last 12 months MRNA outperformed by 429.8 percentage points (+39.0% for IQV against +468.8% for MRNA). The rolling one-year correlation moved between 0.08 and 0.54 over the past three years, a moderate range. Risk is not evenly split, since MRNA carries 2.7 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.
IQV vs MRNA: side by side
| IQV (IQVIA) | MRNA (Moderna) | |
|---|---|---|
| 1-year return | +39.0% | +468.8% |
| 5-year return | +0.3% | -61.5% |
| Volatility (ann.) | 37.9% | 100.7% |
| Beta vs S&P 500 | 0.93 | 0.98 |
| Max drawdown (3Y) | -47.1% | -86.6% |
| Market cap | $43.2B | $57.0B |
| P/E (trailing) | 32.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | IQV | MRNA |
|---|---|---|
| 2022 | -27.4% | -29.3% |
| 2023 | +12.9% | -44.6% |
| 2024 | -15.1% | -58.2% |
| 2025 | +14.7% | -29.1% |
| 2026 | +16.4% | +384.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IQV and MRNA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between IQV and MRNA?
As of 2026-08-27, the correlation of weekly returns between IQV and MRNA is 0.33 over 3 years, 0.31 over 1 year and 0.35 over 5 years.
Is MRNA a good diversifier for IQV?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.33 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/iqv-vs-mrna.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/iqv-vs-mrna/)
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Related comparisons
Hubs: IQV correlations · MRNA correlations
