ENTA vs IBB: Correlation
How closely do Enanta Pharmaceuticals, Inc. (ENTA) and iShares Biotechnology ETF (IBB) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENTA and IBB?
Across a 3-year window, the weekly returns of ENTA and IBB correlate at 0.53, moderate. Recent behaviour matches the longer record: 0.61 over 1 year against 0.53 over 3. Stretching to 5 years gives 0.46, with an annualized covariance of 776.4 %².
Few assets follow ENTA as closely as IBB, which ranks #2 of 15 tracked partners. The trailing year gives ENTA the advantage: +61.8% versus +55.4%, a 6.4-point spread. Note the risk asymmetry: ENTA runs 3.4 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.
ENTA vs IBB: side by side
| ENTA (Enanta Pharmaceuticals, Inc.) | IBB (iShares Biotechnology ETF) | |
|---|---|---|
| 1-year return | +61.8% | +55.4% |
| 5-year return | -75.7% | +26.6% |
| Volatility (ann.) | 70.9% | 20.7% |
| Beta vs S&P 500 | 1.57 | 0.81 |
| Max drawdown (3Y) | -75.6% | -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 | ENTA | IBB |
|---|---|---|
| 2022 | -37.8% | -13.7% |
| 2023 | -79.8% | +3.8% |
| 2024 | -38.9% | -2.4% |
| 2025 | +174.3% | +28.0% |
| 2026 | -12.5% | +27.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENTA and IBB good diversifiers for each other?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ENTA and IBB?
The ENTA/IBB correlation stands at 0.53 on a 3-year window (1 year: 0.61, 5 years: 0.46), computed from weekly returns as of 2026-08-27.
Is IBB a good diversifier for ENTA?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.53 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/enta-vs-ibb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/enta-vs-ibb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ENTA correlations · IBB correlations
