ABT vs INBX: Correlation
Abbott Laboratories (ABT) and Inhibrx Biosciences, Inc. (INBX) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABT and INBX?
Across a 3-year window, the weekly returns of ABT and INBX correlate at -0.21, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.33 versus -0.21 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of -381.4 %².
By 3-year correlation, INBX places #21 of the 29 assets tracked against ABT. Correlation aside, the last 12 months split them widely, with INBX ahead by 365.5 points (-13.2% versus +352.3%). One caveat on sizing: INBX is 3.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ABT vs INBX: side by side
| ABT (Abbott Laboratories) | INBX (Inhibrx Biosciences, Inc.) | |
|---|---|---|
| 1-year return | -13.2% | +352.3% |
| 5-year return | -2.3% | n/a |
| Volatility (ann.) | 22.0% | 80.6% |
| Beta vs S&P 500 | 0.16 | 1.34 |
| Max drawdown (3Y) | -39.6% | -44.1% |
| Market cap | $193.1B | $1.8B |
| P/E (trailing) | 37.0 | – |
| Dividend yield | 2.17% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | ABT | INBX |
|---|---|---|
| 2022 | -20.7% | – |
| 2023 | +2.3% | – |
| 2024 | +4.8% | – |
| 2025 | +12.9% | +413.0% |
| 2026 | -9.3% | +56.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABT and INBX good diversifiers for each other?
Yes. With a correlation of -0.21, ABT and INBX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ABT and INBX?
As of 2026-08-27, the correlation of weekly returns between ABT and INBX is -0.21 over 3 years, -0.33 over 1 year and n/a over 5 years.
Is INBX a good diversifier for ABT?
Yes. With a correlation of -0.21, ABT and INBX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: ABT correlations · INBX correlations
