ICCM vs. TNYA

Last updated Jun 5, 2026

ICCM (Icecure Medical) and TNYA (Tenaya Therapeutics, Inc.) are both stocks. Both are in the Healthcare sector — ICCM in Medical Devices, TNYA in Biotechnology. Over the past 3 years, ICCM returned -45.75%/yr vs -53.34%/yr for TNYA. At a 0.17 correlation, their price movements are largely independent.

Performance

ICCM vs. TNYA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Icecure Medical (ICCM) and Tenaya Therapeutics, Inc. (TNYA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ICCM achieves a -71.48% return, which is significantly lower than TNYA's 8.52% return.

ICCM

• 1D: 14.70%
• 1M: -38.88%
• YTD: -71.48%
• 6M: -74.37%
• 1Y: -83.11%
• 3Y*: -45.75%
• 5Y*: —
• 10Y*: —

TNYA

• 1D: -1.74%
• 1M: 2.36%
• YTD: 8.52%
• 6M: -44.05%
• 1Y: 46.59%
• 3Y*: -53.34%
• 5Y*: —
• 10Y*: —

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

ICCM vs. TNYA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ICCM Icecure Medical	-71.48%	-44.54%	2.80%	-30.97%	-49.18%	-72.02%
TNYA Tenaya Therapeutics, Inc.	8.52%	-50.24%	-55.86%	61.19%	-89.39%	-19.33%

Correlation

The correlation between ICCM and TNYA is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (All Time) Calculated using the full available price history since Aug 27, 2021	0.17

The correlation between ICCM and TNYA shifts across timeframes, from 0.17 (all time) to 0.27 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap ICCM : $384.05M TNYA : $167.46M
EPS ICCM : -$0.23 TNYA : -$0.48
PS Ratio ICCM : 99.00 TNYA : 597.08
PB Ratio ICCM : 45.21 TNYA : 1.58
Total Revenue (TTM) ICCM : $3.57M TNYA : $225.00K
Gross Profit (TTM) ICCM : $1.30M TNYA : $0.00
EBITDA (TTM) ICCM : -$15.41M TNYA : -$78.62M

Return for Risk

ICCM vs. TNYA — Risk / Return Rank

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

ICCM

ICCM Risk / Return Rank: 3
ICCM Sharpe Ratio Rank: 5
ICCM Sortino Ratio Rank: 2
ICCM Omega Ratio Rank: 2
ICCM Calmar Ratio Rank: 4
ICCM Martin Ratio Rank: 2

TNYA

TNYA Risk / Return Rank: 58
TNYA Sharpe Ratio Rank: 56
TNYA Sortino Ratio Rank: 64
TNYA Omega Ratio Rank: 62
TNYA Calmar Ratio Rank: 56
TNYA Martin Ratio Rank: 52

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.

ICCM vs. TNYA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Icecure Medical (ICCM) and Tenaya Therapeutics, Inc. (TNYA). 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.

	ICCM	TNYA	Difference
Sharpe ratio: Return per unit of total volatility	-0.99	0.41	-1.41
Sortino ratio: Return per unit of downside risk	-2.03	1.46	-3.49
Omega ratio: Gain probability vs. loss probability	0.71	1.18	-0.47
Calmar ratio: Return relative to maximum drawdown	-0.94	0.63	-1.58
Martin ratio: Return relative to average drawdown	-1.82	1.00	-2.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ICCM vs. TNYA - Sharpe Ratio Comparison

The current ICCM Sharpe Ratio is -0.99, which is lower than the TNYA Sharpe Ratio of 0.41. The chart below compares the historical Sharpe Ratios of ICCM and TNYA, 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

	ICCM	TNYA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.99	0.41	-1.41
Sharpe Ratio (All Time) Calculated using the full available price history	-0.47	-0.42	-0.04

Drawdowns

ICCM vs. TNYA - Drawdown Comparison

The maximum ICCM drawdown since its inception was -98.77%, roughly equal to the maximum TNYA drawdown of -98.69%. Use the drawdown chart below to compare losses from any high point for ICCM and TNYA.

Drawdown Indicators

	ICCM	TNYA	Difference
Max Drawdown Largest peak-to-trough decline	-98.77%	-98.69%	-0.08%
Max Drawdown (1Y) Largest decline over 1 year	-88.32%	-73.81%	-14.51%
Max Drawdown (3Y) Largest decline over 3 years	-91.03%	-94.88%	+3.85%
Current Drawdown Current decline from peak	-98.46%	-97.39%	-1.07%
Average Drawdown Average peak-to-trough decline	-86.17%	-82.11%	-4.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	45.69%	46.59%	-0.90%

Volatility

ICCM vs. TNYA - Volatility Comparison

Icecure Medical (ICCM) has a higher volatility of 43.33% compared to Tenaya Therapeutics, Inc. (TNYA) at 27.34%. This indicates that ICCM's price experiences larger fluctuations and is considered to be riskier than TNYA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ICCM	TNYA	Difference
Volatility (1M) Calculated over the trailing 1-month period	43.33%	27.34%	+15.99%
Volatility (6M) Calculated over the trailing 6-month period	78.32%	85.62%	-7.30%
Volatility (1Y) Calculated over the trailing 1-year period	83.83%	113.23%	-29.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	124.22%	109.04%	+15.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	124.22%	109.04%	+15.18%

Dividends

ICCM vs. TNYA - Dividend Comparison

Neither ICCM nor TNYA has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both ICCM and TNYA in my portfolio?

ICCM and TNYA have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ICCM or TNYA?

ICCM has higher volatility (43.33%) compared to TNYA (27.34%). In terms of maximum drawdown, ICCM dropped -98.77% vs TNYA's -98.69%.

Which has better risk-adjusted returns?

TNYA currently has the higher Sharpe Ratio (0.41 vs -0.99), 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.