BBIO vs IBB: Correlation
BridgeBio Pharma, Inc. (BBIO) and iShares Biotechnology ETF (IBB) show a moderate relationship: their 3-year correlation of weekly returns is 0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBIO and IBB?
Across a 3-year window, the weekly returns of BBIO and IBB correlate at 0.49, moderate. The link has loosened recently: the 1-year correlation (0.33) runs below the 3-year figure (0.49). Stretching to 5 years gives 0.43, with an annualized covariance of 471.5 %².
IBB is one of the assets that tracks BBIO most closely: it ranks #2 out of the 10 assets we track against BBIO. Twelve-month performance is nearly a tie, at +58.7% for BBIO and +55.4% for IBB. One caveat on sizing: BBIO is 2.3 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.
BBIO vs IBB: side by side
| BBIO (BridgeBio Pharma, Inc.) | IBB (iShares Biotechnology ETF) | |
|---|---|---|
| 1-year return | +58.7% | +55.4% |
| 5-year return | +61.9% | +26.6% |
| Volatility (ann.) | 46.9% | 20.7% |
| Beta vs S&P 500 | 1.02 | 0.81 |
| Max drawdown (3Y) | -49.1% | -24.9% |
| Market cap | $15.4B | – |
| 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 | BBIO | IBB |
|---|---|---|
| 2022 | -54.3% | -13.7% |
| 2023 | +429.8% | +3.8% |
| 2024 | -32.0% | -2.4% |
| 2025 | +178.8% | +28.0% |
| 2026 | +2.9% | +27.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.93% of IBB is BBIO itself, so the fund partly moves with the stock by construction.
Are BBIO and IBB good diversifiers for each other?
Reasonably. At 0.49, BBIO and IBB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BBIO and IBB?
The BBIO/IBB correlation stands at 0.49 on a 3-year window (1 year: 0.33, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is IBB a good diversifier for BBIO?
Reasonably. At 0.49, BBIO and IBB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 mean?
On the −1 to +1 scale, 0.49 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/bbio-vs-ibb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bbio-vs-ibb/)
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Related comparisons
Hubs: BBIO correlations · IBB correlations
