HYLN vs IBAC: Correlation
Measured on weekly returns over the past three years, Hyliion Holdings Corp. (HYLN) and IB Acquisition Corp. (IBAC) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HYLN and IBAC?
Across a 3-year window, the weekly returns of HYLN and IBAC correlate at -0.28, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.28 lands near the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -62.5 %².
IBAC is close to the least connected end of HYLN's tracked universe, ranking #13 of 14. The last year tells two different stories: HYLN led by 98.5 percentage points, +101.8% for HYLN against +3.3% for IBAC. One caveat on sizing: HYLN is 51.5 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.
HYLN vs IBAC: side by side
| HYLN (Hyliion Holdings Corp.) | IBAC (IB Acquisition Corp.) | |
|---|---|---|
| 1-year return | +101.8% | +3.3% |
| 5-year return | -60.9% | n/a |
| Volatility (ann.) | 108.2% | 2.1% |
| Beta vs S&P 500 | 2.37 | -0.00 |
| Max drawdown (3Y) | -70.3% | -3.2% |
| Market cap | $0.6B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HYLN | IBAC |
|---|---|---|
| 2022 | -62.3% | – |
| 2023 | -65.2% | – |
| 2024 | +220.6% | – |
| 2025 | -29.5% | +3.7% |
| 2026 | +85.3% | +3.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HYLN and IBAC good diversifiers for each other?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between HYLN and IBAC?
As of 2026-08-27, the correlation of weekly returns between HYLN and IBAC is -0.28 over 3 years, -0.28 over 1 year and n/a over 5 years.
Is IBAC a good diversifier for HYLN?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.28 mean?
A reading of -0.28 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: HYLN correlations · IBAC correlations
