SMMT vs TIL: Correlation
Measured on weekly returns over the past three years, Summit Therapeutics Inc. (SMMT) and Instil Bio, Inc. (TIL) carry a correlation of 0.63, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SMMT and TIL?
Across a 3-year window, the weekly returns of SMMT and TIL correlate at 0.63, strong. Lately the two have drifted apart, with the 1-year correlation at 0.22 versus 0.63 over 3 years. Stretching to 5 years gives 0.30, with an annualized covariance of 28068.0 %².
TIL is one of the assets that tracks SMMT most closely: it ranks #1 out of the 13 assets we track against SMMT. The last year tells two different stories: SMMT led by 29.7 percentage points, -42.2% for SMMT against -71.9% for TIL. Risk is not evenly split, since TIL carries 2.0 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.
SMMT vs TIL: side by side
| SMMT (Summit Therapeutics Inc.) | TIL (Instil Bio, Inc.) | |
|---|---|---|
| 1-year return | -42.2% | -71.9% |
| 5-year return | +78.5% | -97.9% |
| Volatility (ann.) | 150.4% | 296.1% |
| Beta vs S&P 500 | 2.43 | 3.91 |
| Max drawdown (3Y) | -66.1% | -92.1% |
| Market cap | $11.4B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SMMT | TIL |
|---|---|---|
| 2022 | +58.0% | -96.3% |
| 2023 | -38.6% | -39.5% |
| 2024 | +583.7% | +150.5% |
| 2025 | -2.0% | -42.4% |
| 2026 | -18.1% | -28.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SMMT and TIL good diversifiers for each other?
Only partially. A correlation of 0.63 means SMMT and TIL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between SMMT and TIL?
Using weekly returns as of 2026-08-27: 0.63 over 3 years, with 0.22 over the last year and 0.30 over 5 years.
Is TIL a good diversifier for SMMT?
Only partially. A correlation of 0.63 means SMMT and TIL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.63 mean?
On the −1 to +1 scale, 0.63 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/smmt-vs-til.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/smmt-vs-til/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SMMT correlations · TIL correlations
