IBB vs NRIX: Correlation
iShares Biotechnology ETF (IBB) and Nurix Therapeutics, Inc. (NRIX) show a moderate relationship: their 3-year correlation of weekly returns is 0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBB and NRIX?
Over the past 3 years, IBB and NRIX moved with a correlation of 0.57, which is moderate. Recent behaviour matches the longer record: 0.54 over 1 year against 0.57 over 3. Over 5 years the correlation is 0.55, and the annualized covariance of weekly returns is 914.4 %².
Within IBB's tracked universe of 168 assets, NRIX comes in at #51 by 3-year correlation. The last year tells two different stories: NRIX led by 126.0 percentage points, +55.4% for IBB against +181.4% for NRIX. Risk is not evenly split, since NRIX carries 3.7 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 NRIX: side by side
| IBB (iShares Biotechnology ETF) | NRIX (Nurix Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +55.4% | +181.4% |
| 5-year return | +26.6% | -19.6% |
| Volatility (ann.) | 20.7% | 77.6% |
| Beta vs S&P 500 | 0.81 | 1.82 |
| Max drawdown (3Y) | -24.9% | -70.7% |
| Market cap | – | $2.8B |
| 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 is a Health fund from iShares: $9.2B under management, 235 holdings, a 0.44% expense ratio, a 0.22% trailing dividend yield.
Year-by-year returns
| Year | IBB | NRIX |
|---|---|---|
| 2022 | -13.7% | -62.1% |
| 2023 | +3.8% | -6.0% |
| 2024 | -2.4% | +82.6% |
| 2025 | +28.0% | +0.7% |
| 2026 | +27.4% | +41.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that IBB holds NRIX at a 0.18% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are IBB and NRIX good diversifiers for each other?
Only partially. A correlation of 0.57 means IBB and NRIX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between IBB and NRIX?
As of 2026-08-27, the correlation of weekly returns between IBB and NRIX is 0.57 over 3 years, 0.54 over 1 year and 0.55 over 5 years.
Is NRIX a good diversifier for IBB?
Only partially. A correlation of 0.57 means IBB and NRIX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.57 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-nrix.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ibb-vs-nrix/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IBB correlations · NRIX correlations
