IVVD vs PTHS: Correlation
Measured on weekly returns over the past three years, Invivyd, Inc. (IVVD) and Pelthos Therapeutics Inc. (PTHS) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IVVD and PTHS?
Over the past 3 years, IVVD and PTHS moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.03 versus -0.23 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -9181.7 %².
By 3-year correlation, PTHS places #19 of the 24 assets tracked against IVVD. Twelve-month performance is nearly a tie, at +3.3% for IVVD and +5.4% for PTHS. One caveat on sizing: IVVD is 2.4 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
IVVD vs PTHS: side by side
| IVVD (Invivyd, Inc.) | PTHS (Pelthos Therapeutics Inc.) | |
|---|---|---|
| 1-year return | +3.3% | +5.4% |
| 5-year return | -97.2% | n/a |
| Volatility (ann.) | 305.9% | 125.0% |
| Beta vs S&P 500 | 1.87 | 1.67 |
| Max drawdown (3Y) | -92.9% | -88.7% |
| Market cap | $0.3B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IVVD | PTHS |
|---|---|---|
| 2022 | -79.3% | – |
| 2023 | +162.7% | – |
| 2024 | -88.8% | – |
| 2025 | +457.6% | +383.6% |
| 2026 | -63.6% | -19.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IVVD and PTHS good diversifiers for each other?
Yes. With a correlation of -0.23, IVVD and PTHS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between IVVD and PTHS?
As of 2026-08-27, the correlation of weekly returns between IVVD and PTHS is -0.23 over 3 years, -0.03 over 1 year and n/a over 5 years.
Is PTHS a good diversifier for IVVD?
Yes. With a correlation of -0.23, IVVD and PTHS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/ivvd-vs-pths.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ivvd-vs-pths/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IVVD correlations · PTHS correlations
