CHRS vs IBB: Correlation
Measured on weekly returns over the past three years, Coherus Oncology, Inc. (CHRS) and iShares Biotechnology ETF (IBB) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHRS and IBB?
On 3 years of weekly data the CHRS/IBB correlation comes out at 0.42, moderate. Little has changed lately, as the 1-year reading of 0.37 lands near the 3-year figure. The 5-year figure is 0.42, and annualized covariance runs at 888.0 %².
Among the 13 assets we track against CHRS, IBB ranks #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months IBB outperformed by 27.3 percentage points (+28.1% for CHRS against +55.4% for IBB). Risk is not evenly split, since CHRS carries 5.0 times the volatility of the other side.
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.
CHRS vs IBB: side by side
| CHRS (Coherus Oncology, Inc.) | IBB (iShares Biotechnology ETF) | |
|---|---|---|
| 1-year return | +28.1% | +55.4% |
| 5-year return | -90.8% | +26.6% |
| Volatility (ann.) | 102.6% | 20.7% |
| Beta vs S&P 500 | 1.59 | 0.81 |
| Max drawdown (3Y) | -87.7% | -24.9% |
| Market cap | $0.2B | – |
| 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 | CHRS | IBB |
|---|---|---|
| 2022 | -50.4% | -13.7% |
| 2023 | -58.0% | +3.8% |
| 2024 | -58.6% | -2.4% |
| 2025 | +2.9% | +28.0% |
| 2026 | +2.8% | +27.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHRS and IBB good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CHRS and IBB?
The CHRS/IBB correlation stands at 0.42 on a 3-year window (1 year: 0.37, 5 years: 0.42), computed from weekly returns as of 2026-08-27.
Is IBB a good diversifier for CHRS?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
A reading of 0.42 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/chrs-vs-ibb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/chrs-vs-ibb/)
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Related comparisons
Hubs: CHRS correlations · IBB correlations
