IBB vs MVST: Correlation
Measured on weekly returns over the past three years, iShares Biotechnology ETF (IBB) and Microvast Holdings, Inc. (MVST) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBB and MVST?
Over the past 3 years, IBB and MVST moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.28 versus -0.20 over 3 years. Over 5 years the correlation is -0.06, and the annualized covariance of weekly returns is -853.9 %².
Among the 168 assets we track against IBB, MVST sits near the bottom by co-movement, at rank #164. The last year tells two different stories: IBB led by 126.6 percentage points, +55.4% for IBB against -71.2% for MVST. Note the risk asymmetry: MVST runs 10.1 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 MVST: side by side
| IBB (iShares Biotechnology ETF) | MVST (Microvast Holdings, Inc.) | |
|---|---|---|
| 1-year return | +55.4% | -71.2% |
| 5-year return | +26.6% | -91.6% |
| Volatility (ann.) | 20.7% | 209.2% |
| Beta vs S&P 500 | 0.81 | 0.26 |
| Max drawdown (3Y) | -24.9% | -92.8% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.22% | 0.00% |
| Expense ratio | 0.44% | – |
| Assets under management | $9.2B | – |
| Sector / category | ETF · Thematic | US Listed |
IBB, iShares's Health fund, carries $9.2B under management, 235 holdings, a 0.44% expense ratio, a 0.22% trailing dividend yield.
Year-by-year returns
| Year | IBB | MVST |
|---|---|---|
| 2022 | -13.7% | -73.0% |
| 2023 | +3.8% | -8.5% |
| 2024 | -2.4% | +47.9% |
| 2025 | +28.0% | +35.3% |
| 2026 | +27.4% | -72.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBB and MVST good diversifiers for each other?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between IBB and MVST?
The IBB/MVST correlation stands at -0.20 on a 3-year window (1 year: 0.28, 5 years: -0.06), computed from weekly returns as of 2026-08-27.
Is MVST a good diversifier for IBB?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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-mvst.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ibb-vs-mvst/)
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Related comparisons
Hubs: IBB correlations · MVST correlations
