IQV vs PM: Correlation
Measured on weekly returns over the past three years, IQVIA (IQV) and Philip Morris International (PM) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IQV and PM?
Across a 3-year window, the weekly returns of IQV and PM correlate at -0.19, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.23) sits close to the 3-year figure. Stretching to 5 years gives 0.03, with an annualized covariance of -168.9 %².
Among the 37 assets we track against IQV, PM sits near the bottom by co-movement, at rank #33. Correlation aside, the last 12 months split them widely, with IQV ahead by 18.8 points (+39.0% versus +20.2%). The relationship is regime-dependent: the rolling one-year correlation swung between -0.45 and 0.48 over the past three years, so this pair behaves very differently depending on the market environment. Risk is not evenly split, since IQV carries 1.6 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 PM: side by side
| IQV (IQVIA) | PM (Philip Morris International) | |
|---|---|---|
| 1-year return | +39.0% | +20.2% |
| 5-year return | +0.3% | +133.5% |
| Volatility (ann.) | 37.9% | 23.1% |
| Beta vs S&P 500 | 0.93 | -0.01 |
| Max drawdown (3Y) | -47.1% | -20.6% |
| Market cap | $43.2B | $296.9B |
| P/E (trailing) | 32.6 | 26.7 |
| Dividend yield | 0.00% | 3.03% |
| Sector / category | Health Care | Consumer Staples |
Year-by-year returns
| Year | IQV | PM |
|---|---|---|
| 2022 | -27.4% | +12.3% |
| 2023 | +12.9% | -1.9% |
| 2024 | -15.1% | +34.3% |
| 2025 | +14.7% | +38.0% |
| 2026 | +16.4% | +20.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IQV and PM good diversifiers for each other?
Yes. With a correlation of -0.19, IQV and PM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between IQV and PM?
The IQV/PM correlation stands at -0.19 on a 3-year window (1 year: -0.23, 5 years: 0.03), computed from weekly returns as of 2026-08-27.
Is PM a good diversifier for IQV?
Yes. With a correlation of -0.19, IQV and PM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 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-pm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iqv-vs-pm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IQV correlations · PM correlations
