CLDX vs IBB: Correlation
Celldex Therapeutics, Inc. (CLDX) and iShares Biotechnology ETF (IBB) show a moderate relationship: their 3-year correlation of weekly returns is 0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLDX and IBB?
Across a 3-year window, the weekly returns of CLDX and IBB correlate at 0.55, moderate. The past 12 months show a weaker link (0.31) than the 3-year average (0.55). Stretching to 5 years gives 0.56, with an annualized covariance of 678.3 %².
Among the 18 assets we track against CLDX, IBB ranks #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CLDX ahead by 23.6 points (+79.0% versus +55.4%). Risk is not evenly split, since CLDX carries 2.9 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.
CLDX vs IBB: side by side
| CLDX (Celldex Therapeutics, Inc.) | IBB (iShares Biotechnology ETF) | |
|---|---|---|
| 1-year return | +79.0% | +55.4% |
| 5-year return | -21.9% | +26.6% |
| Volatility (ann.) | 59.4% | 20.7% |
| Beta vs S&P 500 | 1.48 | 0.81 |
| Max drawdown (3Y) | -70.8% | -24.9% |
| Market cap | $3.2B | – |
| 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 | CLDX | IBB |
|---|---|---|
| 2022 | +15.3% | -13.7% |
| 2023 | -11.0% | +3.8% |
| 2024 | -36.3% | -2.4% |
| 2025 | +7.5% | +28.0% |
| 2026 | +49.0% | +27.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLDX and IBB good diversifiers for each other?
Only partially. A correlation of 0.55 means CLDX and IBB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CLDX and IBB?
As of 2026-08-27, the correlation of weekly returns between CLDX and IBB is 0.55 over 3 years, 0.31 over 1 year and 0.56 over 5 years.
Is IBB a good diversifier for CLDX?
Only partially. A correlation of 0.55 means CLDX and IBB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.55 mean?
A reading of 0.55 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/cldx-vs-ibb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cldx-vs-ibb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CLDX correlations · IBB correlations
