Tax-loss harvesting alternatives for ELAN

Among the 30 Pharmaceuticals peers screened, PAHC (Phibro Animal Health) has tracked ELAN most closely over the past year, with a return correlation of 0.46. The strongest fund stand-in is XPH (SPDR S&P Pharmaceuticals) at 0.43 over the past year. Correlations are computed from daily closing-price returns aligned by trading day.

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STOCKS

Single-name peers

Ticker	Name	Sub-industry	1Y	3Y	5Y	10Y
PAHC	Phibro Animal Health	Pharmaceuticals	0.46	0.36	0.36	0.37
ZTS	Zoetis Inc.	Pharmaceuticals	0.44	0.37	0.43	0.44
PRGO	Perrigo	Pharmaceuticals	0.36	0.29	0.29	0.31
SUPN	Supernus Pharmaceuticals, Inc.	Pharmaceuticals	0.33	0.16	0.21	0.22
AZN	AstraZeneca	Pharmaceuticals	0.32	0.24	0.22	0.22
VTRS	Viatris	Pharmaceuticals	0.32	0.37	0.35	0.32
AMRX	Amneal Pharmaceuticals	Pharmaceuticals	0.31	0.29	0.27	0.28
JAZZ	Jazz Pharmaceuticals	Pharmaceuticals	0.27	0.26	0.29	0.30
SNY	Sanofi S.A.	Pharmaceuticals	0.27	0.17	0.17	0.21
GSK	GSK plc	Pharmaceuticals	0.26	0.20	0.19	0.24
PFE	Pfizer Inc.	Pharmaceuticals	0.26	0.21	0.21	0.25
AMPH	Amphstar Pharmaceuticals, Inc.	Pharmaceuticals	0.24	0.20	0.17	0.23
INDV	Indivior	Pharmaceuticals	0.24	0.19	0.00	0.00
COLL	Collegium Pharmaceutical, Inc.	Pharmaceuticals	0.24	0.22	0.25	0.25
MRK	Merck & Co.	Pharmaceuticals	0.23	0.19	0.15	0.23
ALKS	Alkermes plc	Pharmaceuticals	0.21	0.19	0.21	0.24
ANIP	ANI Pharmaceuticals, Inc.	Pharmaceuticals	0.19	0.18	0.20	0.27
ACAD	Acadia Pharmaceuticals	Pharmaceuticals	0.17	0.20	0.25	0.21
BMY	Bristol-Myers Squibb	Pharmaceuticals	0.16	0.19	0.19	0.25
NVO	Novo Nordisk	Pharmaceuticals	0.16	0.21	0.20	0.21
CORT	Corcept Therapeutics Incorporated	Pharmaceuticals	0.15	0.12	0.14	0.14
LLY	Eli Lilly	Pharmaceuticals	0.14	0.12	0.13	0.17
JNJ	Johnson & Johnson	Pharmaceuticals	0.10	0.11	0.11	0.20
PBH	Prestige Consumer Healthcare	Pharmaceuticals	0.10	0.11	0.14	0.22
INVA	Innoviva, Inc.	Pharmaceuticals	0.10	0.15	0.18	0.28
OGN	Organon & Co.	Pharmaceuticals	0.09	0.17	0.21	—
PTCT	PTC Therapeutics, Inc.	Pharmaceuticals	0.09	0.15	0.18	0.22
ABBV	AbbVie Inc.	Pharmaceuticals	0.07	0.15	0.15	0.21
PCRX	Pacira BioSciences, Inc.	Pharmaceuticals	0.06	0.16	0.21	0.24
LQDA	Liquidia Corporation	Pharmaceuticals	0.04	0.06	0.12	0.12

ETFS

Fund stand-ins

An ETF is generally not 'substantially identical' to a single stock, which is why funds are the standard wash-sale-aware replacement.

Ticker	Name	Focus	Match	1Y	3Y	5Y	10Y
XPH	SPDR S&P Pharmaceuticals	Pharmaceuticals (Equal Wt)	INDUSTRY	0.43	0.44	0.49	0.51
IHE	iShares US Pharmaceuticals ETF	Pharmaceuticals	INDUSTRY	0.40	0.39	0.42	0.47
IBB	iShares Biotechnology ETF	Biotechnology	INDUSTRY	0.39	0.39	0.43	0.41
XHE	SPDR S&P Health Care Equipment	Medical Devices (Equal Wt)	SUB-IND	0.37	0.38	0.46	0.47
XBI	SPDR S&P Biotech ETF	Biotechnology (Equal Wt)	INDUSTRY	0.35	0.34	0.40	0.40
FHLC	Fidelity MSCI Health Care ETF	Health Care Sector	SECTOR	0.35	0.35	0.41	0.44
VHT	Vanguard Health Care ETF	Health Care Sector	SECTOR	0.35	0.35	0.41	0.44
PPH	VanEck Pharma ETF	Pharmaceuticals	INDUSTRY	0.33	0.33	0.38	0.43
IYH	iShares US Healthcare ETF	Health Care Sector	SECTOR	0.32	0.33	0.39	0.43
IHI	iShares Medical Devices ETF	Medical Devices	SUB-IND	0.31	0.35	0.42	0.43
XLV	Health Care Select Sector SPDR	Health Care Sector	SECTOR	0.31	0.32	0.37	0.41
IHF	iShares Health Care Providers	Health Care Providers	INDUSTRY	0.14	0.14	0.26	0.36

NEXT STEPS

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Replacement research for ELAN's peers

PAHC ZTS PRGO SUPN AZN VTRS AMRX JAZZ SNY GSK PFE AMPH INDV COLL MRK ALKS ANIP ACAD BMY NVO CORT LLY JNJ PBH INVA OGN PTCT ABBV PCRX LQDA

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Method: Pearson correlation of daily closing-price returns, Yahoo Finance data, series aligned by trading day, refreshed weekly. A cell is blank when overlapping history covers less than 60% of its window. Correlation is descriptive, not predictive. Wash-sale treatment depends on facts and circumstances — confirm with a tax professional. Not investment advice.