IBAC vs NVX: Correlation
Measured on weekly returns over the past three years, IB Acquisition Corp. (IBAC) and NOVONIX Limited - American Depository Shares (NVX) carry a correlation of -0.26, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBAC and NVX?
Across a 3-year window, the weekly returns of IBAC and NVX correlate at -0.26, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.24 lands near the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -55.4 %².
Among the 62 assets we track against IBAC, NVX ranks #42 by 3-year correlation. The last year tells two different stories: IBAC led by 78.7 percentage points, +3.3% for IBAC against -75.4% for NVX. One caveat on sizing: NVX is 45.8 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 NVX: side by side
| IBAC (IB Acquisition Corp.) | NVX (NOVONIX Limited - American Depository Shares) | |
|---|---|---|
| 1-year return | +3.3% | -75.4% |
| 5-year return | n/a | -98.4% |
| Volatility (ann.) | 2.1% | 96.1% |
| Beta vs S&P 500 | -0.00 | 1.02 |
| Max drawdown (3Y) | -3.2% | -88.4% |
| Market cap | $0.1B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IBAC | NVX |
|---|---|---|
| 2023 | – | -52.7% |
| 2024 | – | -7.2% |
| 2025 | +3.7% | -43.9% |
| 2026 | +3.7% | -64.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBAC and NVX good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between IBAC and NVX?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.24 over the last year and n/a over 5 years.
Is NVX a good diversifier for IBAC?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ibac-vs-nvx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ibac-vs-nvx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IBAC correlations · NVX correlations
