IBAC vs XBI: Correlation
IB Acquisition Corp. (IBAC) and SPDR S&P Biotech ETF (XBI) show a negative relationship: their 3-year correlation of weekly returns is -0.18.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBAC and XBI?
On 3 years of weekly data the IBAC/XBI correlation comes out at -0.18, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.12 lands near the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -10.0 %².
By 3-year correlation, XBI places #10 of the 62 assets tracked against IBAC. Correlation aside, the last 12 months split them widely, with XBI ahead by 83.9 points (+3.3% versus +87.2%). Note the risk asymmetry: XBI runs 13.2 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 XBI: side by side
| IBAC (IB Acquisition Corp.) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +3.3% | +87.2% |
| 5-year return | n/a | +28.6% |
| Volatility (ann.) | 2.1% | 27.7% |
| Beta vs S&P 500 | -0.00 | 1.09 |
| Max drawdown (3Y) | -3.2% | -33.0% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | IBAC | XBI |
|---|---|---|
| 2022 | – | -25.9% |
| 2023 | – | +7.6% |
| 2024 | – | +1.0% |
| 2025 | +3.7% | +35.9% |
| 2026 | +3.7% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBAC and XBI good diversifiers for each other?
Yes. With a correlation of -0.18, IBAC and XBI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between IBAC and XBI?
Using weekly returns as of 2026-08-27: -0.18 over 3 years, with -0.12 over the last year and n/a over 5 years.
Is XBI a good diversifier for IBAC?
Yes. With a correlation of -0.18, IBAC and XBI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.18 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 · XBI correlations
