AZN vs IBB: Correlation
AstraZeneca PLC (AZN) and iShares Biotechnology ETF (IBB) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AZN and IBB?
Over the past 3 years, AZN and IBB moved with a correlation of 0.51, which is moderate. Little has changed lately, as the 1-year reading of 0.61 lands near the 3-year figure. Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 267.9 %².
Among the 14 assets we track against AZN, IBB ranks #5 by 3-year correlation. The last year tells two different stories: IBB led by 51.4 percentage points, +4.0% for AZN against +55.4% for IBB.
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.
AZN vs IBB: side by side
| AZN (AstraZeneca PLC) | IBB (iShares Biotechnology ETF) | |
|---|---|---|
| 1-year return | +4.0% | +55.4% |
| 5-year return | +54.7% | +26.6% |
| Volatility (ann.) | 25.1% | 20.7% |
| Beta vs S&P 500 | 0.21 | 0.81 |
| Max drawdown (3Y) | -27.9% | -24.9% |
| Market cap | $255.2B | – |
| P/E (trailing) | 24.9 | – |
| Dividend yield | 1.94% | 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 | AZN | IBB |
|---|---|---|
| 2022 | +19.2% | -13.7% |
| 2023 | +1.4% | +3.8% |
| 2024 | -0.6% | -2.4% |
| 2025 | +43.3% | +28.0% |
| 2026 | -9.6% | +27.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AZN and IBB good diversifiers for each other?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between AZN and IBB?
As of 2026-08-27, the correlation of weekly returns between AZN and IBB is 0.51 over 3 years, 0.61 over 1 year and 0.48 over 5 years.
Is IBB a good diversifier for AZN?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 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/azn-vs-ibb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/azn-vs-ibb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AZN correlations · IBB correlations
