IBAC vs NRIX: Correlation
IB Acquisition Corp. (IBAC) and Nurix Therapeutics, Inc. (NRIX) 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 NRIX?
Over the past 3 years, IBAC and NRIX moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.28 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -35.5 %².
Among the 62 assets we track against IBAC, NRIX ranks #38 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NRIX ahead by 178.1 points (+3.3% versus +181.4%). Note the risk asymmetry: NRIX runs 37.0 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.
IBAC vs NRIX: side by side
| IBAC (IB Acquisition Corp.) | NRIX (Nurix Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +3.3% | +181.4% |
| 5-year return | n/a | -19.6% |
| Volatility (ann.) | 2.1% | 77.6% |
| Beta vs S&P 500 | -0.00 | 1.82 |
| Max drawdown (3Y) | -3.2% | -70.7% |
| Market cap | $0.1B | $2.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IBAC | NRIX |
|---|---|---|
| 2022 | – | -62.1% |
| 2023 | – | -6.0% |
| 2024 | – | +82.6% |
| 2025 | +3.7% | +0.7% |
| 2026 | +3.7% | +41.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBAC and NRIX 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 NRIX?
As of 2026-08-27, the correlation of weekly returns between IBAC and NRIX is -0.25 over 3 years, -0.28 over 1 year and n/a over 5 years.
Is NRIX 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?
On the −1 to +1 scale, -0.25 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.
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Hubs: IBAC correlations · NRIX correlations
