TIL vs UPC: Correlation
Measured on weekly returns over the past three years, Instil Bio, Inc. (TIL) and Universe Pharmaceuticals Inc - Class A (UPC) 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 TIL and UPC?
On 3 years of weekly data the TIL/UPC correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.10 versus -0.23 over 3 years. The 5-year figure is -0.21, and annualized covariance runs at -12523.8 %².
UPC is close to the least connected end of TIL's tracked universe, ranking #15 of 19. The last year tells two different stories: UPC led by 108.9 percentage points, -71.9% for TIL against +37.0% for UPC. Note the risk asymmetry: TIL runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 UPC: side by side
| TIL (Instil Bio, Inc.) | UPC (Universe Pharmaceuticals Inc - Class A) | |
|---|---|---|
| 1-year return | -71.9% | +37.0% |
| 5-year return | -97.9% | -99.9% |
| Volatility (ann.) | 296.1% | 187.7% |
| Beta vs S&P 500 | 3.91 | 2.00 |
| Max drawdown (3Y) | -92.1% | -99.9% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TIL | UPC |
|---|---|---|
| 2022 | -96.3% | -11.3% |
| 2023 | -39.5% | -76.9% |
| 2024 | +150.5% | -98.0% |
| 2025 | -42.4% | -84.4% |
| 2026 | -28.5% | +32.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TIL and UPC good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between TIL and UPC?
The TIL/UPC correlation stands at -0.23 on a 3-year window (1 year: 0.10, 5 years: -0.21), computed from weekly returns as of 2026-08-27.
Is UPC a good diversifier for TIL?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 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/til-vs-upc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/til-vs-upc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TIL correlations · UPC correlations
