IBAC vs KOD: Correlation
How closely do IB Acquisition Corp. (IBAC) and Kodiak Sciences Inc (KOD) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBAC and KOD?
Across a 3-year window, the weekly returns of IBAC and KOD correlate at -0.25, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.32 lands near the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -60.3 %².
Among the 62 assets we track against IBAC, KOD ranks #34 by 3-year correlation. The last year tells two different stories: KOD led by 315.5 percentage points, +3.3% for IBAC against +318.8% for KOD. Risk is not evenly split, since KOD carries 59.0 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 KOD: side by side
| IBAC (IB Acquisition Corp.) | KOD (Kodiak Sciences Inc) | |
|---|---|---|
| 1-year return | +3.3% | +318.8% |
| 5-year return | n/a | -59.3% |
| Volatility (ann.) | 2.1% | 123.8% |
| Beta vs S&P 500 | -0.00 | 2.99 |
| Max drawdown (3Y) | -3.2% | -81.1% |
| Market cap | $0.1B | $2.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IBAC | KOD |
|---|---|---|
| 2022 | – | -91.6% |
| 2023 | – | -57.5% |
| 2024 | – | +227.3% |
| 2025 | +3.7% | +181.0% |
| 2026 | +3.7% | +39.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBAC and KOD good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between IBAC and KOD?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.32 over the last year and n/a over 5 years.
Is KOD a good diversifier for IBAC?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 mean?
A reading of -0.25 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: IBAC correlations · KOD correlations
