GRX vs IBB: Correlation
How closely do The Gabelli Healthcare & Wellness Trust (GRX) and iShares Biotechnology ETF (IBB) trade together? Their weekly returns over three years give a correlation of 0.70, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRX and IBB?
Across a 3-year window, the weekly returns of GRX and IBB correlate at 0.70, strong. The relationship has been stable: the 1-year correlation (0.69) sits close to the 3-year figure. Stretching to 5 years gives 0.67, with an annualized covariance of 219.5 %².
In GRX's tracked universe of 26 assets, IBB sits right near the top at #3. The last year tells two different stories: IBB led by 41.1 percentage points, +14.3% for GRX against +55.4% for IBB.
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.
GRX vs IBB: side by side
| GRX (The Gabelli Healthcare & Wellness Trust) | IBB (iShares Biotechnology ETF) | |
|---|---|---|
| 1-year return | +14.3% | +55.4% |
| 5-year return | +1.5% | +26.6% |
| Volatility (ann.) | 15.1% | 20.7% |
| Beta vs S&P 500 | 0.46 | 0.81 |
| Max drawdown (3Y) | -17.9% | -24.9% |
| Market cap | – | – |
| P/E (trailing) | 67.0 | – |
| 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 | GRX | IBB |
|---|---|---|
| 2022 | -20.0% | -13.7% |
| 2023 | -3.3% | +3.8% |
| 2024 | +9.6% | -2.4% |
| 2025 | +7.0% | +28.0% |
| 2026 | +8.3% | +27.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRX and IBB good diversifiers for each other?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GRX and IBB?
Using weekly returns as of 2026-08-27: 0.70 over 3 years, with 0.69 over the last year and 0.67 over 5 years.
Is IBB a good diversifier for GRX?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.70 mean?
On the −1 to +1 scale, 0.70 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/grx-vs-ibb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/grx-vs-ibb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GRX correlations · IBB correlations
