HYMC vs IBAC: Correlation
How closely do Hycroft Mining Holding Corporation (HYMC) and IB Acquisition Corp. (IBAC) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HYMC and IBAC?
Over the past 3 years, HYMC and IBAC moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.12 over 1 year against -0.20 over 3. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -40.7 %².
Out of 12 assets tracked against HYMC, IBAC lands near the bottom at #11. Their recent paths diverged sharply: over the last 12 months HYMC outperformed by 519.2 percentage points (+522.5% for HYMC against +3.3% for IBAC). Note the risk asymmetry: HYMC runs 46.0 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.
HYMC vs IBAC: side by side
| HYMC (Hycroft Mining Holding Corporation) | IBAC (IB Acquisition Corp.) | |
|---|---|---|
| 1-year return | +522.5% | +3.3% |
| 5-year return | +28.5% | n/a |
| Volatility (ann.) | 96.6% | 2.1% |
| Beta vs S&P 500 | 0.99 | -0.00 |
| Max drawdown (3Y) | -66.9% | -3.2% |
| Market cap | $2.4B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HYMC | IBAC |
|---|---|---|
| 2022 | -13.4% | – |
| 2023 | -53.9% | – |
| 2024 | -9.8% | – |
| 2025 | +975.6% | +3.7% |
| 2026 | +9.2% | +3.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HYMC and IBAC good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between HYMC and IBAC?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.12 over the last year and n/a over 5 years.
Is IBAC a good diversifier for HYMC?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 mean?
A reading of -0.20 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: HYMC correlations · IBAC correlations
