Tax-loss harvesting alternatives for HALO

Among the 28 Biotechnology peers screened, INCY (Incyte) has tracked HALO most closely over the past year, with a return correlation of 0.39. The strongest fund stand-in is IBB (iShares Biotechnology ETF) at 0.48 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
INCY	Incyte	Biotechnology	0.39	0.27	0.28	0.33
AMGN	Amgen Inc.	Biotechnology	0.35	0.29	0.29	0.32
VRTX	Vertex Pharmaceuticals	Biotechnology	0.35	0.21	0.24	0.31
GILD	Gilead Sciences	Biotechnology	0.32	0.26	0.27	0.27
EXEL	Exelixis	Biotechnology	0.30	0.19	0.26	0.36
NBIX	Neurocrine Biosciences	Biotechnology	0.29	0.25	0.26	0.32
REGN	Regeneron Pharmaceuticals	Biotechnology	0.28	0.22	0.23	0.30
BIIB	Biogen Inc.	Biotechnology	0.28	0.26	0.27	0.25
HRMY	Harmony Biosciences Holdings, Inc.	Biotechnology	0.26	0.23	0.26	—
BMRN	BioMarin Pharmaceutical	Biotechnology	0.23	0.28	0.29	0.35
TGTX	TG Therapeutics, Inc.	Biotechnology	0.23	0.20	0.25	0.28
ROIV	Roivant Sciences	Biotechnology	0.21	0.23	0.20	—
RGEN	Repligen	Biotechnology	0.20	0.23	0.27	0.32
KRYS	Krystal Biotech	Biotechnology	0.20	0.22	0.18	0.21
ALNY	Alnylam Pharmaceuticals	Biotechnology	0.20	0.23	0.24	0.29
VCEL	Vericel	Biotechnology	0.19	0.25	0.32	0.28
XNCR	Xencor Inc	Biotechnology	0.18	0.22	0.28	0.33
ADMA	ADMA Biologics, Inc.	Biotechnology	0.17	0.25	0.29	0.23
RCUS	Arcus Biosciences, Inc.	Biotechnology	0.17	0.21	0.23	0.27
UTHR	United Therapeutics	Biotechnology	0.16	0.24	0.25	0.30
MRNA	Moderna Inc.	Biotechnology	0.15	0.14	0.16	0.15
FTRE	Fortrea	Biotechnology	0.15	0.20	0.20	—
ARWR	Arrowhead Pharmaceuticals	Biotechnology	0.15	0.21	0.28	0.25
LGND	Ligand Pharmaceuticals, Inc.	Biotechnology	0.14	0.21	0.27	0.32
VIR	Vir Biotechnology, Inc.	Biotechnology	0.13	0.29	0.25	0.17
PTGX	Protagonist Therapeutics, Inc.	Biotechnology	0.11	0.18	0.16	0.16
SRPT	Sarepta Therapeutics	Biotechnology	0.08	0.10	0.15	0.22
CYTK	Cytokinetics	Biotechnology	0.08	0.13	0.21	0.25

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
IBB	iShares Biotechnology ETF	Biotechnology	INDUSTRY	0.48	0.47	0.49	0.54
FHLC	Fidelity MSCI Health Care ETF	Health Care Sector	SECTOR	0.44	0.45	0.45	0.46
VHT	Vanguard Health Care ETF	Health Care Sector	SECTOR	0.44	0.45	0.45	0.46
IYH	iShares US Healthcare ETF	Health Care Sector	SECTOR	0.43	0.43	0.43	0.45
XLV	Health Care Select Sector SPDR	Health Care Sector	SECTOR	0.42	0.42	0.42	0.42
PPH	VanEck Pharma ETF	Pharmaceuticals	INDUSTRY	0.40	0.37	0.38	0.42
IHE	iShares US Pharmaceuticals ETF	Pharmaceuticals	INDUSTRY	0.39	0.38	0.39	0.45
XBI	SPDR S&P Biotech ETF	Biotechnology (Equal Wt)	INDUSTRY	0.35	0.41	0.46	0.54
XPH	SPDR S&P Pharmaceuticals	Pharmaceuticals (Equal Wt)	INDUSTRY	0.33	0.38	0.43	0.47
ARKG	ARK Genomic Revolution ETF	Genomics (Active)	INDUSTRY	0.29	0.35	0.41	0.46
IHI	iShares Medical Devices ETF	Medical Devices	SUB-IND	0.26	0.28	0.34	0.37
IHF	iShares Health Care Providers	Health Care Providers	INDUSTRY	0.19	0.30	0.33	0.35

NEXT STEPS

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Replacement research for HALO's peers

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

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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.