IBB vs IMTX: Correlation
iShares Biotechnology ETF (IBB) and Immatics N.V. (IMTX) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBB and IMTX?
On 3 years of weekly data the IBB/IMTX correlation comes out at 0.54, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.40 versus 0.54 over 3 years. The 5-year figure is 0.48, and annualized covariance runs at 647.9 %².
By 3-year correlation, IMTX places #70 of the 168 assets tracked against IBB. Their recent paths diverged sharply: over the last 12 months IMTX outperformed by 17.9 percentage points (+55.4% for IBB against +73.3% for IMTX). Note the risk asymmetry: IMTX runs 2.8 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.
IBB vs IMTX: side by side
| IBB (iShares Biotechnology ETF) | IMTX (Immatics N.V.) | |
|---|---|---|
| 1-year return | +55.4% | +73.3% |
| 5-year return | +26.6% | -25.9% |
| Volatility (ann.) | 20.7% | 57.9% |
| Beta vs S&P 500 | 0.81 | 1.62 |
| Max drawdown (3Y) | -24.9% | -74.1% |
| Market cap | – | $1.4B |
| P/E (trailing) | – | – |
| 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 | IMTX |
|---|---|---|
| 2022 | -13.7% | -35.2% |
| 2023 | +3.8% | +20.9% |
| 2024 | -2.4% | -32.5% |
| 2025 | +28.0% | +47.7% |
| 2026 | +27.4% | -10.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBB and IMTX good diversifiers for each other?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between IBB and IMTX?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.40 over the last year and 0.48 over 5 years.
Is IMTX a good diversifier for IBB?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.54 mean?
A reading of 0.54 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ibb-vs-imtx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ibb-vs-imtx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IBB correlations · IMTX correlations
