IBAC vs LQDA: Correlation
Measured on weekly returns over the past three years, IB Acquisition Corp. (IBAC) and Liquidia Corporation (LQDA) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBAC and LQDA?
On 3 years of weekly data the IBAC/LQDA correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.30 lands near the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -39.3 %².
Within IBAC's tracked universe of 62 assets, LQDA comes in at #47 by 3-year correlation. The last year tells two different stories: LQDA led by 146.5 percentage points, +3.3% for IBAC against +149.8% for LQDA. One caveat on sizing: LQDA is 34.4 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.
IBAC vs LQDA: side by side
| IBAC (IB Acquisition Corp.) | LQDA (Liquidia Corporation) | |
|---|---|---|
| 1-year return | +3.3% | +149.8% |
| 5-year return | n/a | +2500.0% |
| Volatility (ann.) | 2.1% | 72.2% |
| Beta vs S&P 500 | -0.00 | 1.47 |
| Max drawdown (3Y) | -3.2% | -46.8% |
| Market cap | $0.1B | $6.3B |
| P/E (trailing) | – | 51.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IBAC | LQDA |
|---|---|---|
| 2022 | – | +30.8% |
| 2023 | – | +88.9% |
| 2024 | – | -2.2% |
| 2025 | +3.7% | +193.3% |
| 2026 | +3.7% | +102.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBAC and LQDA good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between IBAC and LQDA?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.30 over the last year and n/a over 5 years.
Is LQDA a good diversifier for IBAC?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
A reading of -0.27 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ibac-vs-lqda.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ibac-vs-lqda/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IBAC correlations · LQDA correlations
