IONS vs. WVE
IONS (Ionis Pharmaceuticals, Inc.) and WVE (Wave Life Sciences Ltd.) are both stocks. Both operate in the Biotechnology industry within the Healthcare sector. Over the past 10 years, IONS returned 3.21%/yr vs -11.28%/yr for WVE. Their 0.26 correlation means their historical movements had little consistent relationship.
Performance
IONS vs. WVE - Performance Comparison
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Returns By Period
In the year-to-date period, IONS achieves a -34.56% return, which is significantly higher than WVE's -67.59% return. Over the past 10 years, IONS has outperformed WVE with an annualized return of 3.21%, while WVE has yielded a comparatively lower -11.28% annualized return.
IONS
- 1D
- -2.83%
- 1M
- -36.71%
- 6M
- -37.38%
- YTD
- -34.56%
- 1Y
- 20.31%
- 3Y*
- 7.90%
- 5Y*
- 6.87%
- 10Y*
- 3.21%
- ALL TIME*
- 5.06%
WVE
- 1D
- -4.34%
- 1M
- -11.98%
- 6M
- -57.42%
- YTD
- -67.59%
- 1Y
- -36.15%
- 3Y*
- 8.03%
- 5Y*
- 0.00%
- 10Y*
- -11.28%
- ALL TIME*
- -10.00%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $189.49M | $272.86M | $184.93M | |
| $12.78M | $14.44M | $20.78M |
IONS vs. WVE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IONS Ionis Pharmaceuticals, Inc. | -34.56% | 126.29% | -30.90% | 33.94% | 24.12% | -46.18% | -6.41% | 11.75% | 7.48% | 5.16% |
WVE Wave Life Sciences Ltd. | -67.59% | 37.43% | 144.95% | -27.86% | 122.93% | -60.10% | -1.81% | -80.93% | 19.77% | 34.23% |
Correlation
The correlation between IONS and WVE is 0.35, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.35 |
Correlation (3Y) Balances recent behavior with more history. | 0.33 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.30 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.28 |
Correlation (All Time) Calculated using the full available price history since Nov 11, 2015 | 0.26 |
Fundamentals
IONS:
$8.60B
WVE:
$1.06B
IONS:
-$3.46
WVE:
-$1.08
IONS:
9.67
WVE:
15.81
IONS:
19.47
WVE:
2.46
IONS:
$873.76M
WVE:
$65.37M
IONS:
$857.70M
WVE:
$22.59M
IONS:
$4.33B
WVE:
-$200.12M
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Return for Risk
IONS vs. WVE — Risk / Return Rank
IONS
WVE
IONS vs. WVE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ionis Pharmaceuticals, Inc. (IONS) and Wave Life Sciences Ltd. (WVE). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IONS | WVE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.58 | ||
| Sortino ratioReturn per unit of downside risk | +0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.13 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.51 | -0.43 | +0.94 |
| Martin ratioReturn relative to average drawdown | 1.64 | -0.68 | +2.31 |
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Drawdowns
IONS vs. WVE - Drawdown Comparison
The maximum IONS drawdown since its inception was -91.42%, smaller than the maximum WVE drawdown of -97.77%. Use the drawdown chart below to compare losses from any high point for IONS and WVE.
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Drawdown Indicators
| IONS | WVE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.42% | -97.77% | +6.35% |
Max Drawdown (1Y)Largest decline over 1 year | -40.15% | -74.14% | +33.99% |
Max Drawdown (3Y)Largest decline over 3 years | -52.36% | -74.14% | +21.78% |
Max Drawdown (5Y)Largest decline over 5 years | -52.36% | -81.08% | +28.72% |
Max Drawdown (10Y)Largest decline over 10 years | -70.39% | -97.77% | +27.38% |
Current DrawdownCurrent decline from peak | -40.15% | -90.02% | +49.87% |
Average DrawdownAverage peak-to-trough decline | -52.26% | -65.12% | +12.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.53% | 47.26% | -34.73% |
Volatility
IONS vs. WVE - Volatility Comparison
Ionis Pharmaceuticals, Inc. (IONS) has a higher volatility of 29.82% compared to Wave Life Sciences Ltd. (WVE) at 12.84%. This indicates that IONS's price experiences larger fluctuations and is considered to be riskier than WVE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IONS | WVE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.82% | 12.84% | +16.98% |
Volatility (6M)Calculated over the trailing 6-month period | 35.47% | 77.83% | -42.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 52.79% | 168.16% | -115.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.75% | 114.49% | -70.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 45.64% | 98.68% | -53.04% |
Dividends
IONS vs. WVE - Dividend Comparison
Neither IONS nor WVE has paid dividends to shareholders.
Financials
IONS vs. WVE - Financials Comparison
This section allows you to compare key financial metrics between Ionis Pharmaceuticals, Inc. and Wave Life Sciences Ltd.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
Frequently Asked Questions
IONS and WVE have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IONS has higher volatility (29.82%) compared to WVE (12.84%). In terms of maximum drawdown, IONS dropped -91.42% vs WVE's -97.77%.
IONS currently has the higher Sharpe Ratio (0.39 vs -0.19), 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.
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