WVE vs. IONS
WVE (Wave Life Sciences Ltd.) and IONS (Ionis Pharmaceuticals, Inc.) are both stocks. Both operate in the Biotechnology industry within the Healthcare sector. Over the past 10 years, WVE returned -11.28%/yr vs 3.21%/yr for IONS. Their 0.26 correlation means their historical movements had little consistent relationship.
Performance
WVE vs. IONS - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, WVE achieves a -67.59% return, which is significantly lower than IONS's -34.56% return. Over the past 10 years, WVE has underperformed IONS with an annualized return of -11.28%, while IONS has yielded a comparatively higher 3.21% annualized return.
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%
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%
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 |
WVE vs. IONS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
IONS Ionis Pharmaceuticals, Inc. | -34.56% | 126.29% | -30.90% | 33.94% | 24.12% | -46.18% | -6.41% | 11.75% | 7.48% | 5.16% |
Correlation
The correlation between WVE and IONS 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
WVE:
$1.06B
IONS:
$8.60B
WVE:
-$1.08
IONS:
-$3.46
WVE:
15.81
IONS:
9.67
WVE:
2.46
IONS:
19.47
WVE:
$65.37M
IONS:
$873.76M
WVE:
$22.59M
IONS:
$857.70M
WVE:
-$200.12M
IONS:
$4.33B
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
WVE vs. IONS — Risk / Return Rank
WVE
IONS
WVE vs. IONS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Wave Life Sciences Ltd. (WVE) and Ionis Pharmaceuticals, Inc. (IONS). 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.
| WVE | IONS | 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 | 1.13 | 1.16 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.43 | 0.51 | -0.94 |
| Martin ratioReturn relative to average drawdown | -0.68 | 1.64 | -2.31 |
Loading charts...
Drawdowns
WVE vs. IONS - Drawdown Comparison
The maximum WVE drawdown since its inception was -97.77%, which is greater than IONS's maximum drawdown of -91.42%. Use the drawdown chart below to compare losses from any high point for WVE and IONS.
Loading charts...
Drawdown Indicators
| WVE | IONS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.77% | -91.42% | -6.35% |
Max Drawdown (1Y)Largest decline over 1 year | -74.14% | -40.15% | -33.99% |
Max Drawdown (3Y)Largest decline over 3 years | -74.14% | -52.36% | -21.78% |
Max Drawdown (5Y)Largest decline over 5 years | -81.08% | -52.36% | -28.72% |
Max Drawdown (10Y)Largest decline over 10 years | -97.77% | -70.39% | -27.38% |
Current DrawdownCurrent decline from peak | -90.02% | -40.15% | -49.87% |
Average DrawdownAverage peak-to-trough decline | -65.12% | -52.26% | -12.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 47.26% | 12.53% | +34.73% |
Volatility
WVE vs. IONS - Volatility Comparison
The current volatility for Wave Life Sciences Ltd. (WVE) is 12.84%, while Ionis Pharmaceuticals, Inc. (IONS) has a volatility of 29.82%. This indicates that WVE experiences smaller price fluctuations and is considered to be less risky than IONS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| WVE | IONS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.84% | 29.82% | -16.98% |
Volatility (6M)Calculated over the trailing 6-month period | 77.83% | 35.47% | +42.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 168.16% | 52.79% | +115.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 114.49% | 43.75% | +70.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 98.68% | 45.64% | +53.04% |
Dividends
WVE vs. IONS - Dividend Comparison
Neither WVE nor IONS has paid dividends to shareholders.
Financials
WVE vs. IONS - Financials Comparison
This section allows you to compare key financial metrics between Wave Life Sciences Ltd. and Ionis Pharmaceuticals, Inc.. 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
WVE and IONS 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, WVE dropped -97.77% vs IONS's -91.42%.
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.
Find the right allocation for WVE and IONS
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer