ALKS vs IBB: Correlation
Measured on weekly returns over the past three years, Alkermes plc (ALKS) and iShares Biotechnology ETF (IBB) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALKS and IBB?
Across a 3-year window, the weekly returns of ALKS and IBB correlate at 0.44, moderate. Little has changed lately, as the 1-year reading of 0.44 lands near the 3-year figure. Stretching to 5 years gives 0.41, with an annualized covariance of 358.1 %².
IBB is one of the assets that tracks ALKS most closely: it ranks #2 out of the 11 assets we track against ALKS. The trailing year gives ALKS the advantage: +67.2% versus +55.4%, a 11.8-point spread. Note the risk asymmetry: ALKS runs 1.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 IBB: side by side
| ALKS (Alkermes plc) | IBB (iShares Biotechnology ETF) | |
|---|---|---|
| 1-year return | +67.2% | +55.4% |
| 5-year return | +55.7% | +26.6% |
| Volatility (ann.) | 39.0% | 20.7% |
| Beta vs S&P 500 | 0.62 | 0.81 |
| Max drawdown (3Y) | -29.3% | -24.9% |
| Market cap | $8.2B | – |
| P/E (trailing) | 128.7 | – |
| Dividend yield | 0.00% | 0.22% |
| Expense ratio | – | 0.44% |
| Assets under management | – | $9.2B |
| Sector / category | US Listed | ETF · Thematic |
IBB, iShares's Health fund, carries $9.2B under management, 235 holdings, a 0.44% expense ratio, a 0.22% trailing dividend yield.
Year-by-year returns
| Year | ALKS | IBB |
|---|---|---|
| 2022 | +12.3% | -13.7% |
| 2023 | +6.2% | +3.8% |
| 2024 | +3.7% | -2.4% |
| 2025 | -2.7% | +28.0% |
| 2026 | +74.8% | +27.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
ALKS represents 0.55% of IBB's portfolio, so part of any move in IBB is ALKS itself, and the correlation between them is partly mechanical.
Are ALKS and IBB good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ALKS and IBB?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.44 over the last year and 0.41 over 5 years.
Is IBB a good diversifier for ALKS?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.44 mean?
A reading of 0.44 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/alks-vs-ibb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/alks-vs-ibb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALKS correlations · IBB correlations
