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 0.50. The strongest fund stand-in is XPH (SPDR S&P Pharmaceuticals) at 0.44 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	0.50	0.36	0.36	0.37
ZTS	Zoetis Inc.	Pharmaceuticals	0.44	0.37	0.43	0.44
PRGO	Perrigo	Pharmaceuticals	0.37	0.29	0.30	0.31
SUPN	Supernus Pharmaceuticals, Inc.	Pharmaceuticals	0.34	0.16	0.22	0.22
AZN	AstraZeneca	Pharmaceuticals	0.33	0.24	0.22	0.22
VTRS	Viatris	Pharmaceuticals	0.33	0.37	0.35	0.32
AMRX	Amneal Pharmaceuticals	Pharmaceuticals	0.28	0.29	0.27	0.28
JAZZ	Jazz Pharmaceuticals	Pharmaceuticals	0.27	0.25	0.29	0.30
SNY	Sanofi S.A.	Pharmaceuticals	0.27	0.17	0.17	0.21
INDV	Indivior	Pharmaceuticals	0.27	0.19	0.00	0.00
PFE	Pfizer Inc.	Pharmaceuticals	0.26	0.21	0.21	0.25
COLL	Collegium Pharmaceutical, Inc.	Pharmaceuticals	0.25	0.22	0.25	0.25
GSK	GSK plc	Pharmaceuticals	0.25	0.20	0.19	0.24
MRK	Merck & Co.	Pharmaceuticals	0.23	0.19	0.15	0.23
AMPH	Amphstar Pharmaceuticals, Inc.	Pharmaceuticals	0.23	0.20	0.17	0.23
ALKS	Alkermes plc	Pharmaceuticals	0.22	0.19	0.21	0.24
ANIP	ANI Pharmaceuticals, Inc.	Pharmaceuticals	0.20	0.19	0.20	0.27
ACAD	Acadia Pharmaceuticals	Pharmaceuticals	0.18	0.21	0.25	0.21
NVO	Novo Nordisk	Pharmaceuticals	0.17	0.21	0.20	0.21
CORT	Corcept Therapeutics Incorporated	Pharmaceuticals	0.16	0.12	0.14	0.14
BMY	Bristol-Myers Squibb	Pharmaceuticals	0.15	0.19	0.19	0.25
INVA	Innoviva, Inc.	Pharmaceuticals	0.14	0.16	0.18	0.28
LLY	Eli Lilly	Pharmaceuticals	0.13	0.12	0.13	0.17
PTCT	PTC Therapeutics, Inc.	Pharmaceuticals	0.13	0.17	0.19	0.22
PBH	Prestige Consumer Healthcare	Pharmaceuticals	0.12	0.12	0.14	0.22
JNJ	Johnson & Johnson	Pharmaceuticals	0.12	0.12	0.11	0.20
LQDA	Liquidia Corporation	Pharmaceuticals	0.07	0.07	0.12	0.12
OGN	Organon & Co.	Pharmaceuticals	0.07	0.16	0.21	—
PCRX	Pacira BioSciences, Inc.	Pharmaceuticals	0.06	0.15	0.20	0.23
ABBV	AbbVie Inc.	Pharmaceuticals	0.06	0.15	0.15	0.21

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	0.44	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	0.42
XHE	SPDR S&P Health Care Equipment	Medical Devices (Equal Wt)	SUB-IND	0.38	0.38	0.46	0.47
XBI	SPDR S&P Biotech ETF	Biotechnology (Equal Wt)	INDUSTRY	0.37	0.35	0.40	0.40
FHLC	Fidelity MSCI Health Care ETF	Health Care Sector	SECTOR	0.36	0.36	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	0.33	0.34	0.39	0.43
IHI	iShares Medical Devices ETF	Medical Devices	SUB-IND	0.32	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	0.15	0.15	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 INDV PFE COLL GSK MRK AMPH ALKS ANIP ACAD NVO CORT BMY INVA LLY PTCT PBH JNJ LQDA OGN PCRX ABBV

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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.