IBB vs MRVI: Correlation
Measured on weekly returns over the past three years, iShares Biotechnology ETF (IBB) and Maravai LifeSciences Holdings, Inc. (MRVI) 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 MRVI?
Across a 3-year window, the weekly returns of IBB and MRVI correlate at 0.48, moderate. Recent behaviour matches the longer record: 0.43 over 1 year against 0.48 over 3. Stretching to 5 years gives 0.45, with an annualized covariance of 854.3 %².
Within IBB's tracked universe of 168 assets, MRVI comes in at #108 by 3-year correlation. The last year tells two different stories: MRVI led by 203.8 percentage points, +55.4% for IBB against +259.2% for MRVI. One caveat on sizing: MRVI is 4.1 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 MRVI: side by side
| IBB (iShares Biotechnology ETF) | MRVI (Maravai LifeSciences Holdings, Inc.) | |
|---|---|---|
| 1-year return | +55.4% | +259.2% |
| 5-year return | +26.6% | -86.0% |
| Volatility (ann.) | 20.7% | 85.9% |
| Beta vs S&P 500 | 0.81 | 1.35 |
| Max drawdown (3Y) | -24.9% | -84.8% |
| Market cap | – | $3.1B |
| 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 | MRVI |
|---|---|---|
| 2022 | -13.7% | -65.8% |
| 2023 | +3.8% | -54.2% |
| 2024 | -2.4% | -16.8% |
| 2025 | +28.0% | -40.4% |
| 2026 | +27.4% | +157.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
MRVI represents 0.07% of IBB's portfolio, so part of any move in IBB is MRVI itself, and the correlation between them is partly mechanical.
Are IBB and MRVI good diversifiers for each other?
Reasonably. At 0.48, IBB and MRVI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between IBB and MRVI?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.43 over the last year and 0.45 over 5 years.
Is MRVI a good diversifier for IBB?
Reasonably. At 0.48, IBB and MRVI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ibb-vs-mrvi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ibb-vs-mrvi/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IBB correlations · MRVI correlations
