BTCT vs IBB: Correlation
How closely do BTC Digital Ltd. (BTCT) and iShares Biotechnology ETF (IBB) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTCT and IBB?
Across a 3-year window, the weekly returns of BTCT and IBB correlate at -0.24, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.30 versus -0.24 over 3 years. Stretching to 5 years gives -0.14, with an annualized covariance of -2811.1 %².
Within BTCT's tracked universe of 52 assets, IBB comes in at #29 by 3-year correlation. Correlation aside, the last 12 months split them widely, with IBB ahead by 75.6 points (-20.2% versus +55.4%). One caveat on sizing: BTCT is 27.6 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.
BTCT vs IBB: side by side
| BTCT (BTC Digital Ltd.) | IBB (iShares Biotechnology ETF) | |
|---|---|---|
| 1-year return | -20.2% | +55.4% |
| 5-year return | -99.5% | +26.6% |
| Volatility (ann.) | 571.6% | 20.7% |
| Beta vs S&P 500 | -2.21 | 0.81 |
| Max drawdown (3Y) | -97.8% | -24.9% |
| Market cap | – | – |
| 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 | BTCT | IBB |
|---|---|---|
| 2022 | -97.6% | -13.7% |
| 2023 | +33.9% | +3.8% |
| 2024 | -0.8% | -2.4% |
| 2025 | -72.8% | +28.0% |
| 2026 | +61.5% | +27.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTCT and IBB good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between BTCT and IBB?
As of 2026-08-27, the correlation of weekly returns between BTCT and IBB is -0.24 over 3 years, 0.30 over 1 year and -0.14 over 5 years.
Is IBB a good diversifier for BTCT?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
A reading of -0.24 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/btct-vs-ibb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/btct-vs-ibb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BTCT correlations · IBB correlations
