COYA vs IBB: Correlation
How closely do Coya Therapeutics, Inc. (COYA) and iShares Biotechnology ETF (IBB) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COYA and IBB?
On 3 years of weekly data the COYA/IBB correlation comes out at 0.39, moderate. The past 12 months show a tighter link (0.53) than the 3-year average (0.39). The 5-year figure is 0.36, and annualized covariance runs at 533.4 %².
By 3-year correlation, IBB places #4 of the 12 assets tracked against COYA. Their recent paths diverged sharply: over the last 12 months IBB outperformed by 81.3 percentage points (-25.9% for COYA against +55.4% for IBB). Note the risk asymmetry: COYA runs 3.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
COYA vs IBB: side by side
| COYA (Coya Therapeutics, Inc.) | IBB (iShares Biotechnology ETF) | |
|---|---|---|
| 1-year return | -25.9% | +55.4% |
| 5-year return | n/a | +26.6% |
| Volatility (ann.) | 66.2% | 20.7% |
| Beta vs S&P 500 | 1.33 | 0.81 |
| Max drawdown (3Y) | -62.9% | -24.9% |
| Market cap | $0.1B | – |
| 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 | COYA | IBB |
|---|---|---|
| 2022 | – | -13.7% |
| 2023 | +56.4% | +3.8% |
| 2024 | -22.7% | -2.4% |
| 2025 | +1.2% | +28.0% |
| 2026 | -16.2% | +27.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COYA and IBB good diversifiers for each other?
Reasonably. At 0.39, COYA and IBB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between COYA and IBB?
The COYA/IBB correlation stands at 0.39 on a 3-year window (1 year: 0.53, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is IBB a good diversifier for COYA?
Reasonably. At 0.39, COYA and IBB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 mean?
A reading of 0.39 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/coya-vs-ibb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/coya-vs-ibb/)
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Related comparisons
Hubs: COYA correlations · IBB correlations
