IBAC vs TMQ: Correlation
IB Acquisition Corp. (IBAC) and Trilogy Metals Inc. (TMQ) show a negative relationship: their 3-year correlation of weekly returns is -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBAC and TMQ?
Over the past 3 years, IBAC and TMQ moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.30 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -83.3 %².
Among the 62 assets we track against IBAC, TMQ ranks #49 by 3-year correlation. The last year tells two different stories: TMQ led by 123.0 percentage points, +3.3% for IBAC against +126.3% for TMQ. One caveat on sizing: TMQ is 62.7 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 TMQ: side by side
| IBAC (IB Acquisition Corp.) | TMQ (Trilogy Metals Inc.) | |
|---|---|---|
| 1-year return | +3.3% | +126.3% |
| 5-year return | n/a | +85.3% |
| Volatility (ann.) | 2.1% | 131.6% |
| Beta vs S&P 500 | -0.00 | 0.28 |
| Max drawdown (3Y) | -3.2% | -72.5% |
| Market cap | $0.1B | $0.7B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IBAC | TMQ |
|---|---|---|
| 2022 | – | -66.7% |
| 2023 | – | -21.8% |
| 2024 | – | +169.8% |
| 2025 | +3.7% | +271.6% |
| 2026 | +3.7% | -12.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBAC and TMQ good diversifiers for each other?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between IBAC and TMQ?
As of 2026-08-27, the correlation of weekly returns between IBAC and TMQ is -0.27 over 3 years, -0.30 over 1 year and n/a over 5 years.
Is TMQ a good diversifier for IBAC?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.27 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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Related comparisons
Hubs: IBAC correlations · TMQ correlations
