TIL vs TOYO: Correlation
Measured on weekly returns over the past three years, Instil Bio, Inc. (TIL) and TOYO Co., Ltd (TOYO) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TIL and TOYO?
On 3 years of weekly data the TIL/TOYO correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.08) runs above the 3-year figure (-0.22). The 5-year figure is -0.21, and annualized covariance runs at -6983.7 %².
Within TIL's tracked universe of 19 assets, TOYO comes in at #13 by 3-year correlation. The last year tells two different stories: TOYO led by 58.3 percentage points, -71.9% for TIL against -13.6% for TOYO. Risk is not evenly split, since TIL 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.
TIL vs TOYO: side by side
| TIL (Instil Bio, Inc.) | TOYO (TOYO Co., Ltd) | |
|---|---|---|
| 1-year return | -71.9% | -13.6% |
| 5-year return | -97.9% | -54.4% |
| Volatility (ann.) | 296.1% | 107.7% |
| Beta vs S&P 500 | 3.91 | 0.34 |
| Max drawdown (3Y) | -92.1% | -86.3% |
| Market cap | $0.1B | $0.2B |
| P/E (trailing) | – | 2.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TIL | TOYO |
|---|---|---|
| 2022 | -96.3% | – |
| 2023 | -39.5% | +8.0% |
| 2024 | +150.5% | -69.3% |
| 2025 | -42.4% | +73.4% |
| 2026 | -28.5% | -23.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TIL and TOYO good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between TIL and TOYO?
As of 2026-08-27, the correlation of weekly returns between TIL and TOYO is -0.22 over 3 years, 0.08 over 1 year and -0.21 over 5 years.
Is TOYO a good diversifier for TIL?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
A reading of -0.22 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/til-vs-toyo.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/til-vs-toyo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: TIL correlations · TOYO correlations
