Tax-loss harvesting alternatives for BIIB

Among the 28 Biotechnology peers screened, AMGN (Amgen Inc.) has tracked BIIB most closely over the past year, with a return correlation of 0.50. The strongest fund stand-in is IYH (iShares US Healthcare ETF) at 0.56 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
AMGN	Amgen Inc.	Biotechnology	0.50	0.51	0.42	0.40
VRTX	Vertex Pharmaceuticals	Biotechnology	0.46	0.34	0.35	0.32
INCY	Incyte	Biotechnology	0.38	0.37	0.34	0.33
GILD	Gilead Sciences	Biotechnology	0.34	0.37	0.35	0.33
REGN	Regeneron Pharmaceuticals	Biotechnology	0.34	0.42	0.36	0.35
BMRN	BioMarin Pharmaceutical	Biotechnology	0.33	0.34	0.34	0.32
HALO	Halozyme	Biotechnology	0.28	0.26	0.27	0.25
UTHR	United Therapeutics	Biotechnology	0.27	0.28	0.27	0.25
EXEL	Exelixis	Biotechnology	0.27	0.22	0.25	0.26
NBIX	Neurocrine Biosciences	Biotechnology	0.25	0.25	0.25	0.26
KRYS	Krystal Biotech	Biotechnology	0.22	0.27	0.17	0.16
CYTK	Cytokinetics	Biotechnology	0.22	0.21	0.22	0.23
ROIV	Roivant Sciences	Biotechnology	0.21	0.26	0.20	—
MRNA	Moderna Inc.	Biotechnology	0.21	0.24	0.20	0.15
SRPT	Sarepta Therapeutics	Biotechnology	0.20	0.21	0.21	0.20
FTRE	Fortrea	Biotechnology	0.19	0.24	0.23	—
RGEN	Repligen	Biotechnology	0.18	0.26	0.25	0.23
ARWR	Arrowhead Pharmaceuticals	Biotechnology	0.17	0.30	0.33	0.23
TGTX	TG Therapeutics, Inc.	Biotechnology	0.17	0.17	0.22	0.19
HRMY	Harmony Biosciences Holdings, Inc.	Biotechnology	0.17	0.21	0.23	—
VIR	Vir Biotechnology, Inc.	Biotechnology	0.17	0.23	0.19	0.13
LGND	Ligand Pharmaceuticals, Inc.	Biotechnology	0.16	0.22	0.26	0.26
ALNY	Alnylam Pharmaceuticals	Biotechnology	0.15	0.22	0.24	0.23
VCEL	Vericel	Biotechnology	0.14	0.24	0.28	0.18
PTGX	Protagonist Therapeutics, Inc.	Biotechnology	0.09	0.18	0.16	0.11
XNCR	Xencor Inc	Biotechnology	0.09	0.25	0.28	0.27
ADMA	ADMA Biologics, Inc.	Biotechnology	0.06	0.11	0.19	0.11
RCUS	Arcus Biosciences, Inc.	Biotechnology	0.03	0.23	0.25	0.20

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
IYH	iShares US Healthcare ETF	Health Care Sector	SECTOR	0.56	0.57	0.52	0.48
XLV	Health Care Select Sector SPDR	Health Care Sector	SECTOR	0.55	0.56	0.51	0.47
FHLC	Fidelity MSCI Health Care ETF	Health Care Sector	SECTOR	0.55	0.58	0.53	0.48
VHT	Vanguard Health Care ETF	Health Care Sector	SECTOR	0.55	0.57	0.52	0.48
PPH	VanEck Pharma ETF	Pharmaceuticals	INDUSTRY	0.53	0.54	0.49	0.44
IBB	iShares Biotechnology ETF	Biotechnology	INDUSTRY	0.48	0.58	0.54	0.52
IHE	iShares US Pharmaceuticals ETF	Pharmaceuticals	INDUSTRY	0.48	0.52	0.47	0.43
XBI	SPDR S&P Biotech ETF	Biotechnology (Equal Wt)	INDUSTRY	0.32	0.45	0.46	0.42
IHI	iShares Medical Devices ETF	Medical Devices	SUB-IND	0.27	0.36	0.37	0.34
XPH	SPDR S&P Pharmaceuticals	Pharmaceuticals (Equal Wt)	INDUSTRY	0.26	0.43	0.44	0.40
IHF	iShares Health Care Providers	Health Care Providers	INDUSTRY	0.23	0.27	0.33	0.34
ARKG	ARK Genomic Revolution ETF	Genomics (Active)	INDUSTRY	0.21	0.35	0.37	0.34

NEXT STEPS

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Replacement research for BIIB's peers

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

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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.