IBAC vs SPY: Correlation
Measured on weekly returns over the past three years, IB Acquisition Corp. (IBAC) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of -0.02, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBAC and SPY?
Across a 3-year window, the weekly returns of IBAC and SPY correlate at -0.02, near zero, meaning they move largely independently. The link has tightened recently: the 1-year correlation (0.17) runs above the 3-year figure (-0.02). Stretching to 5 years gives n/a, with an annualized covariance of -0.5 %².
By 3-year correlation, SPY places #7 of the 62 assets tracked against IBAC. Correlation aside, the last 12 months split them widely, with SPY ahead by 17.3 points (+3.3% versus +20.6%). Note the risk asymmetry: SPY runs 6.9 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 SPY: side by side
| IBAC (IB Acquisition Corp.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +3.3% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 2.1% | 14.5% |
| Beta vs S&P 500 | -0.00 | 1.00 |
| Max drawdown (3Y) | -3.2% | -18.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | US Listed | ETF · US Large Cap |
SPY is a Large Blend fund from State Street Investment Management: $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | IBAC | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | – | +26.2% |
| 2024 | – | +24.9% |
| 2025 | +3.7% | +17.7% |
| 2026 | +3.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBAC and SPY good diversifiers for each other?
Yes. With a correlation of -0.02, IBAC and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between IBAC and SPY?
The IBAC/SPY correlation stands at -0.02 on a 3-year window (1 year: 0.17, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for IBAC?
Yes. With a correlation of -0.02, IBAC and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.02 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.
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Hubs: IBAC correlations · SPY correlations
