AMLX vs IBB: Correlation
Amylyx Pharmaceuticals, Inc. (AMLX) and iShares Biotechnology ETF (IBB) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMLX and IBB?
Over the past 3 years, AMLX and IBB moved with a correlation of 0.47, which is moderate. The relationship has been stable: the 1-year correlation (0.51) sits close to the 3-year figure. Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 959.0 %².
Among the 17 assets we track against AMLX, IBB ranks #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with AMLX ahead by 238.0 points (+293.4% versus +55.4%). Note the risk asymmetry: AMLX runs 4.7 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.
AMLX vs IBB: side by side
| AMLX (Amylyx Pharmaceuticals, Inc.) | IBB (iShares Biotechnology ETF) | |
|---|---|---|
| 1-year return | +293.4% | +55.4% |
| 5-year return | +105.8% | +26.6% |
| Volatility (ann.) | 97.8% | 20.7% |
| Beta vs S&P 500 | 1.29 | 0.81 |
| Max drawdown (3Y) | -92.6% | -24.9% |
| Market cap | $4.1B | – |
| P/E (trailing) | – | – |
| 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 | AMLX | IBB |
|---|---|---|
| 2022 | – | -13.7% |
| 2023 | -60.2% | +3.8% |
| 2024 | -74.3% | -2.4% |
| 2025 | +219.6% | +28.0% |
| 2026 | +207.8% | +27.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.24% of IBB is AMLX itself, so the fund partly moves with the stock by construction.
Are AMLX and IBB good diversifiers for each other?
Reasonably. At 0.47, AMLX and IBB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AMLX and IBB?
The AMLX/IBB correlation stands at 0.47 on a 3-year window (1 year: 0.51, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is IBB a good diversifier for AMLX?
Reasonably. At 0.47, AMLX and IBB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 mean?
A reading of 0.47 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/amlx-vs-ibb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/amlx-vs-ibb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AMLX correlations · IBB correlations
