IBAC vs IPI: Correlation
IB Acquisition Corp. (IBAC) and Intrepid Potash, Inc (IPI) show a negative relationship: their 3-year correlation of weekly returns is -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBAC and IPI?
On 3 years of weekly data the IBAC/IPI correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.33) than the 3-year average (-0.20). The 5-year figure is n/a, and annualized covariance runs at -19.9 %².
Among the 62 assets we track against IBAC, IPI ranks #19 by 3-year correlation. Correlation aside, the last 12 months split them widely, with IPI ahead by 20.0 points (+3.3% versus +23.3%). Risk is not evenly split, since IPI carries 22.9 times the volatility of the other side.
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.
IBAC vs IPI: side by side
| IBAC (IB Acquisition Corp.) | IPI (Intrepid Potash, Inc) | |
|---|---|---|
| 1-year return | +3.3% | +23.3% |
| 5-year return | n/a | +20.2% |
| Volatility (ann.) | 2.1% | 48.0% |
| Beta vs S&P 500 | -0.00 | 0.56 |
| Max drawdown (3Y) | -3.2% | -38.5% |
| Market cap | $0.1B | $0.5B |
| P/E (trailing) | – | 31.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IBAC | IPI |
|---|---|---|
| 2022 | – | -32.4% |
| 2023 | – | -17.2% |
| 2024 | – | -8.2% |
| 2025 | +3.7% | +26.5% |
| 2026 | +3.7% | +35.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBAC and IPI good diversifiers for each other?
Yes. With a correlation of -0.20, IBAC and IPI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between IBAC and IPI?
The IBAC/IPI correlation stands at -0.20 on a 3-year window (1 year: -0.33, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is IPI a good diversifier for IBAC?
Yes. With a correlation of -0.20, IBAC and IPI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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/ibac-vs-ipi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ibac-vs-ipi/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IBAC correlations · IPI correlations
