CABA vs. IOVA

Last updated Jun 4, 2026

CABA (Cabaletta Bio, Inc.) and IOVA (Iovance Biotherapeutics, Inc.) are both stocks. Both operate in the Biotechnology industry within the Healthcare sector. Over the past 5 years, CABA returned -18.46%/yr vs -26.71%/yr for IOVA. At a 0.33 correlation, their price movements are largely independent.

Performance

CABA vs. IOVA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cabaletta Bio, Inc. (CABA) and Iovance Biotherapeutics, Inc. (IOVA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CABA achieves a 63.47% return, which is significantly higher than IOVA's 38.83% return.

CABA

• 1D: -2.72%
• 1M: -6.53%
• YTD: 63.47%
• 6M: 43.20%
• 1Y: 64.22%
• 3Y*: -31.52%
• 5Y*: -18.46%
• 10Y*: —

IOVA

• 1D: -7.56%
• 1M: -1.56%
• YTD: 38.83%
• 6M: 71.49%
• 1Y: 108.24%
• 3Y*: -24.48%
• 5Y*: -26.71%
• 10Y*: -7.92%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CABA vs. IOVA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
CABA Cabaletta Bio, Inc.	63.47%	-3.52%	-90.00%	145.41%	144.06%	-69.63%	-10.67%	39.70%
IOVA Iovance Biotherapeutics, Inc.	38.83%	-63.11%	-8.98%	27.23%	-66.53%	-58.86%	67.63%	34.96%

Correlation

The correlation between CABA and IOVA is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (All Time) Calculated using the full available price history since Oct 28, 2019	0.33

Fundamentals

Market Cap CABA : $401.05M IOVA : $1.59B
EPS CABA : -$1.85 IOVA : -$0.93
PB Ratio CABA : 3.88 IOVA : 2.20
Total Revenue (TTM) CABA : $0.00 IOVA : $285.61M
Gross Profit (TTM) CABA : $148.00K IOVA : $327.04M
EBITDA (TTM) CABA : -$181.04M IOVA : -$325.45M

Return for Risk

CABA vs. IOVA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CABA

CABA Risk / Return Rank: 65
CABA Sharpe Ratio Rank: 60
CABA Sortino Ratio Rank: 70
CABA Omega Ratio Rank: 67
CABA Calmar Ratio Rank: 67
CABA Martin Ratio Rank: 62

IOVA

IOVA Risk / Return Rank: 72
IOVA Sharpe Ratio Rank: 73
IOVA Sortino Ratio Rank: 77
IOVA Omega Ratio Rank: 72
IOVA Calmar Ratio Rank: 73
IOVA Martin Ratio Rank: 66

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CABA vs. IOVA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cabaletta Bio, Inc. (CABA) and Iovance Biotherapeutics, Inc. (IOVA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CABA	IOVA	Difference
Sharpe ratio: Return per unit of total volatility	0.59	1.07	-0.48
Sortino ratio: Return per unit of downside risk	1.76	2.16	-0.40
Omega ratio: Gain probability vs. loss probability	1.21	1.25	-0.04
Calmar ratio: Return relative to maximum drawdown	1.39	2.00	-0.61
Martin ratio: Return relative to average drawdown	2.42	3.14	-0.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CABA vs. IOVA - Sharpe Ratio Comparison

The current CABA Sharpe Ratio is 0.59, which is lower than the IOVA Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of CABA and IOVA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CABA	IOVA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.59	1.07	-0.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.16	-0.30	+0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.10	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.13	-0.13	0.00

Drawdowns

CABA vs. IOVA - Drawdown Comparison

The maximum CABA drawdown since its inception was -96.63%, roughly equal to the maximum IOVA drawdown of -99.37%. Use the drawdown chart below to compare losses from any high point for CABA and IOVA.

Drawdown Indicators

	CABA	IOVA	Difference
Max Drawdown Largest peak-to-trough decline	-96.63%	-99.37%	+2.74%
Max Drawdown (1Y) Largest decline over 1 year	-46.37%	-54.41%	+8.04%
Max Drawdown (3Y) Largest decline over 3 years	-95.90%	-90.50%	-5.40%
Max Drawdown (5Y) Largest decline over 5 years	-95.90%	-93.99%	-1.91%
Max Drawdown (10Y) Largest decline over 10 years	—	-96.84%	—
Current Drawdown Current decline from peak	-85.89%	-97.62%	+11.73%
Average Drawdown Average peak-to-trough decline	-59.66%	-84.16%	+24.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.65%	34.64%	-7.99%

Volatility

CABA vs. IOVA - Volatility Comparison

The current volatility for Cabaletta Bio, Inc. (CABA) is 21.67%, while Iovance Biotherapeutics, Inc. (IOVA) has a volatility of 24.33%. This indicates that CABA experiences smaller price fluctuations and is considered to be less risky than IOVA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CABA	IOVA	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.67%	24.33%	-2.66%
Volatility (6M) Calculated over the trailing 6-month period	61.03%	62.96%	-1.93%
Volatility (1Y) Calculated over the trailing 1-year period	108.82%	101.64%	+7.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	113.62%	89.79%	+23.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	109.69%	81.28%	+28.41%

Dividends

CABA vs. IOVA - Dividend Comparison

Neither CABA nor IOVA has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both CABA and IOVA in my portfolio?

CABA and IOVA have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CABA or IOVA?

IOVA has higher volatility (24.33%) compared to CABA (21.67%). In terms of maximum drawdown, CABA dropped -96.63% vs IOVA's -99.37%.

Which has better risk-adjusted returns?

IOVA currently has the higher Sharpe Ratio (1.07 vs 0.59), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.