IBAC vs ZJYL: Correlation
How closely do IB Acquisition Corp. (IBAC) and JIN MEDICAL INTERNATIONAL LTD. - Class A (ZJYL) trade together? Their weekly returns over three years give a correlation of 0.24, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBAC and ZJYL?
On 3 years of weekly data the IBAC/ZJYL correlation comes out at 0.24, weak. The relationship has been stable: the 1-year correlation (0.30) sits close to the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at 51.2 %².
Within IBAC's tracked universe of 62 assets, ZJYL comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with IBAC ahead by 89.0 points (+3.3% versus -85.7%). Note the risk asymmetry: ZJYL runs 128.9 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 ZJYL: side by side
| IBAC (IB Acquisition Corp.) | ZJYL (JIN MEDICAL INTERNATIONAL LTD. - Class A) | |
|---|---|---|
| 1-year return | +3.3% | -85.7% |
| 5-year return | n/a | n/a |
| Volatility (ann.) | 2.1% | 270.7% |
| Beta vs S&P 500 | -0.00 | 1.23 |
| Max drawdown (3Y) | -3.2% | -99.3% |
| Market cap | $0.1B | $0.2B |
| P/E (trailing) | – | 13.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IBAC | ZJYL |
|---|---|---|
| 2024 | – | -93.7% |
| 2025 | +3.7% | -71.7% |
| 2026 | +3.7% | -46.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBAC and ZJYL good diversifiers for each other?
Reasonably. At 0.24, IBAC and ZJYL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between IBAC and ZJYL?
Using weekly returns as of 2026-08-27: 0.24 over 3 years, with 0.30 over the last year and n/a over 5 years.
Is ZJYL a good diversifier for IBAC?
Reasonably. At 0.24, IBAC and ZJYL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.24 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ibac-vs-zjyl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ibac-vs-zjyl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IBAC correlations · ZJYL correlations
