GLAS vs IBAC: Correlation
Measured on weekly returns over the past three years, Glass House Brands Inc. Subordinate Voting Shares (GLAS) and IB Acquisition Corp. (IBAC) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GLAS and IBAC?
Across a 3-year window, the weekly returns of GLAS and IBAC correlate at -0.22, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.24) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -31.0 %².
Among the 11 assets we track against GLAS, IBAC sits near the bottom by co-movement, at rank #10. The last year tells two different stories: GLAS led by 15.4 percentage points, +18.7% for GLAS against +3.3% for IBAC. One caveat on sizing: GLAS is 29.9 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.
GLAS vs IBAC: side by side
| GLAS (Glass House Brands Inc. Subordinate Voting Shares) | IBAC (IB Acquisition Corp.) | |
|---|---|---|
| 1-year return | +18.7% | +3.3% |
| 5-year return | +124.8% | n/a |
| Volatility (ann.) | 62.8% | 2.1% |
| Beta vs S&P 500 | 0.87 | -0.00 |
| Max drawdown (3Y) | -61.4% | -3.2% |
| Market cap | $0.9B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GLAS | IBAC |
|---|---|---|
| 2022 | -50.2% | – |
| 2023 | +147.6% | – |
| 2024 | +22.6% | – |
| 2025 | +52.6% | +3.7% |
| 2026 | +10.5% | +3.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GLAS and IBAC good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GLAS and IBAC?
The GLAS/IBAC correlation stands at -0.22 on a 3-year window (1 year: -0.24, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is IBAC a good diversifier for GLAS?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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.
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Hubs: GLAS correlations · IBAC correlations
