IBB vs ILMN: Correlation
iShares Biotechnology ETF (IBB) and Illumina, Inc. (ILMN) show a moderate relationship: their 3-year correlation of weekly returns is 0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBB and ILMN?
On 3 years of weekly data the IBB/ILMN correlation comes out at 0.55, moderate. Recent behaviour matches the longer record: 0.47 over 1 year against 0.55 over 3. The 5-year figure is 0.59, and annualized covariance runs at 526.5 %².
By 3-year correlation, ILMN places #64 of the 168 assets tracked against IBB. Correlation aside, the last 12 months split them widely, with ILMN ahead by 73.3 points (+55.4% versus +128.7%). Risk is not evenly split, since ILMN carries 2.2 times the volatility of the other side.
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.
IBB vs ILMN: side by side
| IBB (iShares Biotechnology ETF) | ILMN (Illumina, Inc.) | |
|---|---|---|
| 1-year return | +55.4% | +128.7% |
| 5-year return | +26.6% | -48.8% |
| Volatility (ann.) | 20.7% | 45.9% |
| Beta vs S&P 500 | 0.81 | 1.22 |
| Max drawdown (3Y) | -24.9% | -57.1% |
| Market cap | – | $34.4B |
| P/E (trailing) | – | 42.0 |
| Dividend yield | 0.22% | 0.00% |
| Expense ratio | 0.44% | – |
| Assets under management | $9.2B | – |
| Sector / category | ETF · Thematic | US Listed |
On the fund side, IBB sits in the Health category at iShares, with $9.2B under management, 235 holdings, a 0.44% expense ratio, a 0.22% trailing dividend yield.
Year-by-year returns
| Year | IBB | ILMN |
|---|---|---|
| 2022 | -13.7% | -46.9% |
| 2023 | +3.8% | -31.1% |
| 2024 | -2.4% | -1.3% |
| 2025 | +28.0% | -1.8% |
| 2026 | +27.4% | +73.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
ILMN represents 2.34% of IBB's portfolio, so part of any move in IBB is ILMN itself, and the correlation between them is partly mechanical.
Are IBB and ILMN good diversifiers for each other?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between IBB and ILMN?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.47 over the last year and 0.59 over 5 years.
Is ILMN a good diversifier for IBB?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.55 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/ibb-vs-ilmn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ibb-vs-ilmn/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IBB correlations · ILMN correlations
