IBB vs PCVX: Correlation
iShares Biotechnology ETF (IBB) and Vaxcyte, Inc. (PCVX) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBB and PCVX?
On 3 years of weekly data the IBB/PCVX correlation comes out at 0.58, moderate. Recent behaviour matches the longer record: 0.67 over 1 year against 0.58 over 3. The 5-year figure is 0.44, and annualized covariance runs at 696.1 %².
Within IBB's tracked universe of 168 assets, PCVX comes in at #45 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PCVX outperformed by 44.8 percentage points (+55.4% for IBB against +100.2% for PCVX). Note the risk asymmetry: PCVX 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 PCVX: side by side
| IBB (iShares Biotechnology ETF) | PCVX (Vaxcyte, Inc.) | |
|---|---|---|
| 1-year return | +55.4% | +100.2% |
| 5-year return | +26.6% | +130.8% |
| Volatility (ann.) | 20.7% | 57.9% |
| Beta vs S&P 500 | 0.81 | 1.40 |
| Max drawdown (3Y) | -24.9% | -76.2% |
| Market cap | – | $9.1B |
| 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 | PCVX |
|---|---|---|
| 2022 | -13.7% | +101.6% |
| 2023 | +3.8% | +31.0% |
| 2024 | -2.4% | +30.4% |
| 2025 | +28.0% | -43.6% |
| 2026 | +27.4% | +32.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.6% of IBB is PCVX itself, so the fund partly moves with the stock by construction.
Are IBB and PCVX good diversifiers for each other?
Only partially. A correlation of 0.58 means IBB and PCVX 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 PCVX?
As of 2026-08-27, the correlation of weekly returns between IBB and PCVX is 0.58 over 3 years, 0.67 over 1 year and 0.44 over 5 years.
Is PCVX a good diversifier for IBB?
Only partially. A correlation of 0.58 means IBB and PCVX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.58 mean?
On the −1 to +1 scale, 0.58 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-pcvx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ibb-vs-pcvx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IBB correlations · PCVX correlations
