CRL vs IBB: Correlation
Charles River Laboratories (CRL) and iShares Biotechnology ETF (IBB) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRL and IBB?
On 3 years of weekly data the CRL/IBB correlation comes out at 0.58, moderate. Recent behaviour matches the longer record: 0.63 over 1 year against 0.58 over 3. The 5-year figure is 0.61, and annualized covariance runs at 572.5 %².
By 3-year correlation, IBB places #6 of the 33 assets tracked against CRL. The last year tells two different stories: CRL led by 26.7 percentage points, +82.1% for CRL against +55.4% for IBB. The rolling one-year correlation moved between 0.37 and 0.79 over the past three years, a moderate range. Risk is not evenly split, since CRL carries 2.3 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.
CRL vs IBB: side by side
| CRL (Charles River Laboratories) | IBB (iShares Biotechnology ETF) | |
|---|---|---|
| 1-year return | +82.1% | +55.4% |
| 5-year return | -33.3% | +26.6% |
| Volatility (ann.) | 47.9% | 20.7% |
| Beta vs S&P 500 | 0.92 | 0.81 |
| Max drawdown (3Y) | -63.5% | -24.9% |
| Market cap | $14.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.22% |
| Expense ratio | – | 0.44% |
| Assets under management | – | $9.2B |
| Sector / category | Health Care | 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 | CRL | IBB |
|---|---|---|
| 2022 | -42.2% | -13.7% |
| 2023 | +8.5% | +3.8% |
| 2024 | -21.9% | -2.4% |
| 2025 | +8.1% | +28.0% |
| 2026 | +48.6% | +27.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
CRL represents 0.97% of IBB's portfolio, so part of any move in IBB is CRL itself, and the correlation between them is partly mechanical.
Are CRL and IBB good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CRL and IBB?
Using weekly returns as of 2026-08-27: 0.58 over 3 years, with 0.63 over the last year and 0.61 over 5 years.
Is IBB a good diversifier for CRL?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 mean?
On the −1 to +1 scale, 0.58 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/crl-vs-ibb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/crl-vs-ibb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CRL correlations · IBB correlations
