Tax-loss harvesting alternatives for INCY

Among the 28 Biotechnology peers screened, EXEL (Exelixis) has tracked INCY most closely over the past year, with a return correlation of 0.49. The strongest fund stand-in is FHLC (Fidelity MSCI Health Care ETF) at 0.54 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
EXEL	Exelixis	Biotechnology	0.49	0.28	0.30	0.40
AMGN	Amgen Inc.	Biotechnology	0.47	0.39	0.35	0.38
VRTX	Vertex Pharmaceuticals	Biotechnology	0.42	0.33	0.36	0.44
HALO	Halozyme	Biotechnology	0.40	0.28	0.29	0.33
GILD	Gilead Sciences	Biotechnology	0.39	0.39	0.38	0.35
BIIB	Biogen Inc.	Biotechnology	0.38	0.38	0.34	0.33
NBIX	Neurocrine Biosciences	Biotechnology	0.37	0.32	0.36	0.39
BMRN	BioMarin Pharmaceutical	Biotechnology	0.36	0.32	0.35	0.42
REGN	Regeneron Pharmaceuticals	Biotechnology	0.33	0.36	0.36	0.41
TGTX	TG Therapeutics, Inc.	Biotechnology	0.31	0.23	0.24	0.23
HRMY	Harmony Biosciences Holdings, Inc.	Biotechnology	0.30	0.25	0.26	0.22
RGEN	Repligen	Biotechnology	0.29	0.23	0.25	0.28
KRYS	Krystal Biotech	Biotechnology	0.29	0.25	0.23	0.21
FTRE	Fortrea	Biotechnology	0.26	0.25	0.24	—
ALNY	Alnylam Pharmaceuticals	Biotechnology	0.26	0.23	0.24	0.31
VCEL	Vericel	Biotechnology	0.26	0.21	0.22	0.22
PTGX	Protagonist Therapeutics, Inc.	Biotechnology	0.25	0.18	0.19	0.11
ROIV	Roivant Sciences	Biotechnology	0.24	0.26	0.19	—
XNCR	Xencor Inc	Biotechnology	0.24	0.27	0.30	0.32
SRPT	Sarepta Therapeutics	Biotechnology	0.24	0.19	0.20	0.24
LGND	Ligand Pharmaceuticals, Inc.	Biotechnology	0.23	0.25	0.27	0.29
RCUS	Arcus Biosciences, Inc.	Biotechnology	0.23	0.29	0.28	0.30
MRNA	Moderna Inc.	Biotechnology	0.20	0.21	0.23	0.20
ADMA	ADMA Biologics, Inc.	Biotechnology	0.19	0.18	0.21	0.16
VIR	Vir Biotechnology, Inc.	Biotechnology	0.19	0.21	0.23	0.17
ARWR	Arrowhead Pharmaceuticals	Biotechnology	0.14	0.25	0.29	0.26
CYTK	Cytokinetics	Biotechnology	0.13	0.17	0.19	0.23
UTHR	United Therapeutics	Biotechnology	0.12	0.22	0.25	0.30

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
FHLC	Fidelity MSCI Health Care ETF	Health Care Sector	SECTOR	0.54	0.46	0.47	0.50
IBB	iShares Biotechnology ETF	Biotechnology	INDUSTRY	0.54	0.53	0.53	0.58
VHT	Vanguard Health Care ETF	Health Care Sector	SECTOR	0.54	0.46	0.47	0.50
IYH	iShares US Healthcare ETF	Health Care Sector	SECTOR	0.53	0.45	0.45	0.49
XLV	Health Care Select Sector SPDR	Health Care Sector	SECTOR	0.51	0.44	0.44	0.47
IHE	iShares US Pharmaceuticals ETF	Pharmaceuticals	INDUSTRY	0.51	0.43	0.44	0.49
PPH	VanEck Pharma ETF	Pharmaceuticals	INDUSTRY	0.51	0.40	0.41	0.45
XBI	SPDR S&P Biotech ETF	Biotechnology (Equal Wt)	INDUSTRY	0.44	0.46	0.46	0.53
XPH	SPDR S&P Pharmaceuticals	Pharmaceuticals (Equal Wt)	INDUSTRY	0.41	0.42	0.45	0.47
ARKG	ARK Genomic Revolution ETF	Genomics (Active)	INDUSTRY	0.28	0.32	0.36	0.41
IHI	iShares Medical Devices ETF	Medical Devices	SUB-IND	0.27	0.29	0.32	0.38
IHF	iShares Health Care Providers	Health Care Providers	INDUSTRY	0.23	0.21	0.28	0.34

NEXT STEPS

Harvesting a loss in INCY?

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Replacement research for INCY's peers

EXEL AMGN VRTX HALO GILD BIIB NBIX BMRN REGN TGTX HRMY RGEN KRYS FTRE ALNY VCEL PTGX ROIV XNCR SRPT LGND RCUS MRNA ADMA VIR ARWR CYTK UTHR

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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.