CTKB vs IBB: Correlation
How closely do Cytek Biosciences, Inc. (CTKB) and iShares Biotechnology ETF (IBB) trade together? Their weekly returns over three years give a correlation of 0.50, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTKB and IBB?
Over the past 3 years, CTKB and IBB moved with a correlation of 0.50, which is moderate. Recent behaviour matches the longer record: 0.41 over 1 year against 0.50 over 3. Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 679.1 %².
Within CTKB's tracked universe of 11 assets, IBB comes in at #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with IBB ahead by 42.4 points (+13.0% versus +55.4%). One caveat on sizing: CTKB is 3.2 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.
CTKB vs IBB: side by side
| CTKB (Cytek Biosciences, Inc.) | IBB (iShares Biotechnology ETF) | |
|---|---|---|
| 1-year return | +13.0% | +55.4% |
| 5-year return | -77.1% | +26.6% |
| Volatility (ann.) | 66.0% | 20.7% |
| Beta vs S&P 500 | 1.34 | 0.81 |
| Max drawdown (3Y) | -74.6% | -24.9% |
| Market cap | $0.6B | – |
| 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 | CTKB | IBB |
|---|---|---|
| 2022 | -37.4% | -13.7% |
| 2023 | -10.7% | +3.8% |
| 2024 | -28.8% | -2.4% |
| 2025 | -22.2% | +28.0% |
| 2026 | -8.5% | +27.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTKB and IBB good diversifiers for each other?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CTKB and IBB?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.41 over the last year and 0.44 over 5 years.
Is IBB a good diversifier for CTKB?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.50 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ctkb-vs-ibb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ctkb-vs-ibb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CTKB correlations · IBB correlations
