IBAC vs ODFL: Correlation
IB Acquisition Corp. (IBAC) and Old Dominion (ODFL) show a negative relationship: their 3-year correlation of weekly returns is -0.16.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBAC and ODFL?
Across a 3-year window, the weekly returns of IBAC and ODFL correlate at -0.16, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.13 over 1 year against -0.16 over 3. Stretching to 5 years gives n/a, with an annualized covariance of -12.4 %².
By 3-year correlation, ODFL places #8 of the 62 assets tracked against IBAC. The last year tells two different stories: ODFL led by 27.6 percentage points, +3.3% for IBAC against +30.9% for ODFL. One caveat on sizing: ODFL is 16.5 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 ODFL: side by side
| IBAC (IB Acquisition Corp.) | ODFL (Old Dominion) | |
|---|---|---|
| 1-year return | +3.3% | +30.9% |
| 5-year return | n/a | +39.6% |
| Volatility (ann.) | 2.1% | 34.7% |
| Beta vs S&P 500 | -0.00 | 0.98 |
| Max drawdown (3Y) | -3.2% | -45.2% |
| Market cap | $0.1B | $41.6B |
| P/E (trailing) | – | 38.3 |
| Dividend yield | 0.00% | 0.57% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | IBAC | ODFL |
|---|---|---|
| 2022 | – | -20.5% |
| 2023 | – | +43.5% |
| 2024 | – | -12.5% |
| 2025 | +3.7% | -10.5% |
| 2026 | +3.7% | +27.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBAC and ODFL good diversifiers for each other?
Yes: at -0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between IBAC and ODFL?
The IBAC/ODFL correlation stands at -0.16 on a 3-year window (1 year: -0.13, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is ODFL a good diversifier for IBAC?
Yes: at -0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.16 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-odfl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ibac-vs-odfl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IBAC correlations · ODFL correlations
