IBAC vs NAK: Correlation
IB Acquisition Corp. (IBAC) and Northern Dynasty Minerals, Ltd. (NAK) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBAC and NAK?
Across a 3-year window, the weekly returns of IBAC and NAK correlate at -0.25, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.28) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -53.6 %².
Within IBAC's tracked universe of 62 assets, NAK comes in at #37 by 3-year correlation. The last year tells two different stories: NAK led by 93.3 percentage points, +3.3% for IBAC against +96.6% for NAK. Note the risk asymmetry: NAK runs 46.1 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.
IBAC vs NAK: side by side
| IBAC (IB Acquisition Corp.) | NAK (Northern Dynasty Minerals, Ltd.) | |
|---|---|---|
| 1-year return | +3.3% | +96.6% |
| 5-year return | n/a | +326.8% |
| Volatility (ann.) | 2.1% | 96.9% |
| Beta vs S&P 500 | -0.00 | 1.03 |
| Max drawdown (3Y) | -3.2% | -67.8% |
| Market cap | $0.1B | $1.0B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IBAC | NAK |
|---|---|---|
| 2022 | – | -33.3% |
| 2023 | – | +45.5% |
| 2024 | – | +81.2% |
| 2025 | +3.7% | +239.7% |
| 2026 | +3.7% | -11.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBAC and NAK good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between IBAC and NAK?
As of 2026-08-27, the correlation of weekly returns between IBAC and NAK is -0.25 over 3 years, -0.28 over 1 year and n/a over 5 years.
Is NAK a good diversifier for IBAC?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ibac-vs-nak.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ibac-vs-nak/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IBAC correlations · NAK correlations
