ALKS vs IBAC: Correlation
Alkermes plc (ALKS) and IB Acquisition Corp. (IBAC) 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 ALKS and IBAC?
Across a 3-year window, the weekly returns of ALKS and IBAC correlate at -0.21, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.24 lands near the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -17.9 %².
IBAC is close to the least connected end of ALKS's tracked universe, ranking #9 of 11. Correlation aside, the last 12 months split them widely, with ALKS ahead by 63.9 points (+67.2% versus +3.3%). One caveat on sizing: ALKS is 18.6 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.
ALKS vs IBAC: side by side
| ALKS (Alkermes plc) | IBAC (IB Acquisition Corp.) | |
|---|---|---|
| 1-year return | +67.2% | +3.3% |
| 5-year return | +55.7% | n/a |
| Volatility (ann.) | 39.0% | 2.1% |
| Beta vs S&P 500 | 0.62 | -0.00 |
| Max drawdown (3Y) | -29.3% | -3.2% |
| Market cap | $8.2B | $0.1B |
| P/E (trailing) | 128.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALKS | IBAC |
|---|---|---|
| 2022 | +12.3% | – |
| 2023 | +6.2% | – |
| 2024 | +3.7% | – |
| 2025 | -2.7% | +3.7% |
| 2026 | +74.8% | +3.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALKS and IBAC good diversifiers for each other?
Yes. With a correlation of -0.21, ALKS and IBAC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ALKS and IBAC?
As of 2026-08-27, the correlation of weekly returns between ALKS and IBAC is -0.21 over 3 years, -0.24 over 1 year and n/a over 5 years.
Is IBAC a good diversifier for ALKS?
Yes. With a correlation of -0.21, ALKS and IBAC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/alks-vs-ibac.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/alks-vs-ibac/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ALKS correlations · IBAC correlations
