GDEV vs IBAC: Correlation
Measured on weekly returns over the past three years, GDEV Inc. (GDEV) and IB Acquisition Corp. (IBAC) carry a correlation of -0.31, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GDEV and IBAC?
On 3 years of weekly data the GDEV/IBAC correlation comes out at -0.31, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.32 over 1 year against -0.31 over 3. The 5-year figure is n/a, and annualized covariance runs at -59.9 %².
Out of 11 assets tracked against GDEV, IBAC lands near the bottom at #11. Correlation aside, the last 12 months split them widely, with IBAC ahead by 27.5 points (-24.2% versus +3.3%). Note the risk asymmetry: GDEV runs 41.8 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.
GDEV vs IBAC: side by side
| GDEV (GDEV Inc.) | IBAC (IB Acquisition Corp.) | |
|---|---|---|
| 1-year return | -24.2% | +3.3% |
| 5-year return | -84.9% | n/a |
| Volatility (ann.) | 87.8% | 2.1% |
| Beta vs S&P 500 | 1.24 | -0.00 |
| Max drawdown (3Y) | -77.9% | -3.2% |
| Market cap | $0.2B | $0.1B |
| P/E (trailing) | 2.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GDEV | IBAC |
|---|---|---|
| 2022 | -20.8% | – |
| 2023 | -65.4% | – |
| 2024 | -12.5% | – |
| 2025 | -6.3% | +3.7% |
| 2026 | -28.0% | +3.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GDEV and IBAC good diversifiers for each other?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GDEV and IBAC?
Using weekly returns as of 2026-08-27: -0.31 over 3 years, with -0.32 over the last year and n/a over 5 years.
Is IBAC a good diversifier for GDEV?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.31 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.
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Related comparisons
Hubs: GDEV correlations · IBAC correlations
