CPHI vs IBAC: Correlation
China Pharma Holdings, Inc. (CPHI) and IB Acquisition Corp. (IBAC) show a negative relationship: their 3-year correlation of weekly returns is -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPHI and IBAC?
On 3 years of weekly data the CPHI/IBAC correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.31 lands near the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -68.4 %².
Out of 16 assets tracked against CPHI, IBAC lands near the bottom at #15. The last year tells two different stories: IBAC led by 40.0 percentage points, -36.7% for CPHI against +3.3% for IBAC. One caveat on sizing: CPHI is 53.4 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.
CPHI vs IBAC: side by side
| CPHI (China Pharma Holdings, Inc.) | IBAC (IB Acquisition Corp.) | |
|---|---|---|
| 1-year return | -36.7% | +3.3% |
| 5-year return | -99.7% | n/a |
| Volatility (ann.) | 112.2% | 2.1% |
| Beta vs S&P 500 | 0.27 | -0.00 |
| Max drawdown (3Y) | -95.0% | -3.2% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CPHI | IBAC |
|---|---|---|
| 2022 | -79.2% | – |
| 2023 | -88.0% | – |
| 2024 | -61.7% | – |
| 2025 | -47.4% | +3.7% |
| 2026 | -26.8% | +3.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CPHI and IBAC good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between CPHI and IBAC?
The CPHI/IBAC correlation stands at -0.27 on a 3-year window (1 year: -0.31, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is IBAC a good diversifier for CPHI?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: CPHI correlations · IBAC correlations
