IBAC vs ZURA: Correlation
Measured on weekly returns over the past three years, IB Acquisition Corp. (IBAC) and Zura Bio Limited - Class A (ZURA) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBAC and ZURA?
On 3 years of weekly data the IBAC/ZURA correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.33 over 1 year against -0.23 over 3. The 5-year figure is n/a, and annualized covariance runs at -48.6 %².
By 3-year correlation, ZURA places #31 of the 62 assets tracked against IBAC. Their recent paths diverged sharply: over the last 12 months ZURA outperformed by 167.5 percentage points (+3.3% for IBAC against +170.8% for ZURA). One caveat on sizing: ZURA is 47.7 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 ZURA: side by side
| IBAC (IB Acquisition Corp.) | ZURA (Zura Bio Limited - Class A) | |
|---|---|---|
| 1-year return | +3.3% | +170.8% |
| 5-year return | n/a | n/a |
| Volatility (ann.) | 2.1% | 100.1% |
| Beta vs S&P 500 | -0.00 | 1.00 |
| Max drawdown (3Y) | -3.2% | -85.8% |
| Market cap | $0.1B | $0.6B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IBAC | ZURA |
|---|---|---|
| 2024 | – | -46.5% |
| 2025 | +3.7% | +109.6% |
| 2026 | +3.7% | +11.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBAC and ZURA good diversifiers for each other?
Yes. With a correlation of -0.23, IBAC and ZURA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between IBAC and ZURA?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.33 over the last year and n/a over 5 years.
Is ZURA a good diversifier for IBAC?
Yes. With a correlation of -0.23, IBAC and ZURA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 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-zura.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ibac-vs-zura/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IBAC correlations · ZURA correlations
