IBAC vs PLG: Correlation
IB Acquisition Corp. (IBAC) and Platinum Group Metals Ltd. (PLG) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBAC and PLG?
On 3 years of weekly data the IBAC/PLG correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.21) sits close to the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -37.3 %².
By 3-year correlation, PLG places #27 of the 62 assets tracked against IBAC. Their 12-month results are close: +3.3% for IBAC against +4.7% for PLG. Note the risk asymmetry: PLG runs 35.6 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 PLG: side by side
| IBAC (IB Acquisition Corp.) | PLG (Platinum Group Metals Ltd.) | |
|---|---|---|
| 1-year return | +3.3% | +4.7% |
| 5-year return | n/a | -41.5% |
| Volatility (ann.) | 2.1% | 74.7% |
| Beta vs S&P 500 | -0.00 | 1.36 |
| Max drawdown (3Y) | -3.2% | -64.4% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IBAC | PLG |
|---|---|---|
| 2022 | – | +10.1% |
| 2023 | – | -34.5% |
| 2024 | – | +12.3% |
| 2025 | +3.7% | +84.4% |
| 2026 | +3.7% | -34.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBAC and PLG good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between IBAC and PLG?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.21 over the last year and n/a over 5 years.
Is PLG a good diversifier for IBAC?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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.
Use this data
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Related comparisons
Hubs: IBAC correlations · PLG correlations
