DYN vs IBB: Correlation
How closely do Dyne Therapeutics, Inc. (DYN) and iShares Biotechnology ETF (IBB) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DYN and IBB?
Across a 3-year window, the weekly returns of DYN and IBB correlate at 0.48, moderate. Little has changed lately, as the 1-year reading of 0.45 lands near the 3-year figure. Stretching to 5 years gives 0.46, with an annualized covariance of 773.6 %².
Within DYN's tracked universe of 13 assets, IBB comes in at #4 by 3-year correlation. The last year tells two different stories: DYN led by 35.9 percentage points, +91.3% for DYN against +55.4% for IBB. Note the risk asymmetry: DYN runs 3.8 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.
DYN vs IBB: side by side
| DYN (Dyne Therapeutics, Inc.) | IBB (iShares Biotechnology ETF) | |
|---|---|---|
| 1-year return | +91.3% | +55.4% |
| 5-year return | +58.2% | +26.6% |
| Volatility (ann.) | 78.6% | 20.7% |
| Beta vs S&P 500 | 1.95 | 0.81 |
| Max drawdown (3Y) | -85.5% | -24.9% |
| Market cap | $4.9B | – |
| 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 | DYN | IBB |
|---|---|---|
| 2022 | -2.5% | -13.7% |
| 2023 | +14.8% | +3.8% |
| 2024 | +77.1% | -2.4% |
| 2025 | -17.0% | +28.0% |
| 2026 | +33.4% | +27.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
DYN represents 0.27% of IBB's portfolio, so part of any move in IBB is DYN itself, and the correlation between them is partly mechanical.
Are DYN and IBB good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DYN and IBB?
The DYN/IBB correlation stands at 0.48 on a 3-year window (1 year: 0.45, 5 years: 0.46), computed from weekly returns as of 2026-08-27.
Is IBB a good diversifier for DYN?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 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/dyn-vs-ibb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dyn-vs-ibb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DYN correlations · IBB correlations
