IBB vs JAZZ: Correlation
Measured on weekly returns over the past three years, iShares Biotechnology ETF (IBB) and Jazz Pharmaceuticals plc (JAZZ) carry a correlation of 0.48, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBB and JAZZ?
Over the past 3 years, IBB and JAZZ moved with a correlation of 0.48, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.34 versus 0.48 over 3 years. Over 5 years the correlation is 0.45, and the annualized covariance of weekly returns is 341.9 %².
Among the 168 assets we track against IBB, JAZZ ranks #106 by 3-year correlation. The last year tells two different stories: JAZZ led by 46.4 percentage points, +55.4% for IBB against +101.8% for JAZZ. One caveat on sizing: JAZZ is 1.7 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.
IBB vs JAZZ: side by side
| IBB (iShares Biotechnology ETF) | JAZZ (Jazz Pharmaceuticals plc) | |
|---|---|---|
| 1-year return | +55.4% | +101.8% |
| 5-year return | +26.6% | +90.9% |
| Volatility (ann.) | 20.7% | 34.6% |
| Beta vs S&P 500 | 0.81 | 0.60 |
| Max drawdown (3Y) | -24.9% | -32.7% |
| Market cap | – | $16.3B |
| P/E (trailing) | – | 17.2 |
| 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 | JAZZ |
|---|---|---|
| 2022 | -13.7% | +25.0% |
| 2023 | +3.8% | -22.8% |
| 2024 | -2.4% | +0.1% |
| 2025 | +28.0% | +38.0% |
| 2026 | +27.4% | +47.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBB and JAZZ good diversifiers for each other?
Reasonably. At 0.48, IBB and JAZZ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between IBB and JAZZ?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.34 over the last year and 0.45 over 5 years.
Is JAZZ a good diversifier for IBB?
Reasonably. At 0.48, IBB and JAZZ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 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: IBB correlations · JAZZ correlations
