DMAC vs IBB: Correlation
Measured on weekly returns over the past three years, DiaMedica Therapeutics Inc. (DMAC) and iShares Biotechnology ETF (IBB) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DMAC and IBB?
Across a 3-year window, the weekly returns of DMAC and IBB correlate at 0.41, moderate. Little has changed lately, as the 1-year reading of 0.44 lands near the 3-year figure. Stretching to 5 years gives 0.23, with an annualized covariance of 582.2 %².
Among the 10 assets we track against DMAC, IBB ranks #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with IBB ahead by 42.5 points (+12.9% versus +55.4%). Note the risk asymmetry: DMAC runs 3.3 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.
DMAC vs IBB: side by side
| DMAC (DiaMedica Therapeutics Inc.) | IBB (iShares Biotechnology ETF) | |
|---|---|---|
| 1-year return | +12.9% | +55.4% |
| 5-year return | +67.5% | +26.6% |
| Volatility (ann.) | 68.6% | 20.7% |
| Beta vs S&P 500 | 1.46 | 0.81 |
| Max drawdown (3Y) | -49.2% | -24.9% |
| Market cap | $0.4B | – |
| 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 | DMAC | IBB |
|---|---|---|
| 2022 | -57.6% | -13.7% |
| 2023 | +79.7% | +3.8% |
| 2024 | +91.2% | -2.4% |
| 2025 | +46.6% | +28.0% |
| 2026 | -15.2% | +27.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DMAC and IBB good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DMAC and IBB?
Using weekly returns as of 2026-08-27: 0.41 over 3 years, with 0.44 over the last year and 0.23 over 5 years.
Is IBB a good diversifier for DMAC?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 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/dmac-vs-ibb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dmac-vs-ibb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DMAC correlations · IBB correlations
