IBAC vs SQM: Correlation
Measured on weekly returns over the past three years, IB Acquisition Corp. (IBAC) and Sociedad Quimica y Minera S.A. (SQM) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBAC and SQM?
Over the past 3 years, IBAC and SQM moved with a correlation of -0.22, 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 -20.6 %².
Within IBAC's tracked universe of 62 assets, SQM comes in at #28 by 3-year correlation. The last year tells two different stories: SQM led by 70.0 percentage points, +3.3% for IBAC against +73.3% for SQM. Note the risk asymmetry: SQM runs 21.7 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 SQM: side by side
| IBAC (IB Acquisition Corp.) | SQM (Sociedad Quimica y Minera S.A.) | |
|---|---|---|
| 1-year return | +3.3% | +73.3% |
| 5-year return | n/a | +90.7% |
| Volatility (ann.) | 2.1% | 45.5% |
| Beta vs S&P 500 | -0.00 | 0.78 |
| Max drawdown (3Y) | -3.2% | -51.3% |
| Market cap | $0.1B | $23.0B |
| P/E (trailing) | – | 16.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IBAC | SQM |
|---|---|---|
| 2022 | – | +71.8% |
| 2023 | – | -18.3% |
| 2024 | – | -39.4% |
| 2025 | +3.7% | +89.2% |
| 2026 | +3.7% | +18.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBAC and SQM good diversifiers for each other?
Yes. With a correlation of -0.22, IBAC and SQM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between IBAC and SQM?
The IBAC/SQM correlation stands at -0.22 on a 3-year window (1 year: -0.28, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SQM a good diversifier for IBAC?
Yes. With a correlation of -0.22, IBAC and SQM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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.
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Related comparisons
Hubs: IBAC correlations · SQM correlations
