IBB vs QTRX: Correlation
How closely do iShares Biotechnology ETF (IBB) and Quanterix Corporation (QTRX) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBB and QTRX?
Over the past 3 years, IBB and QTRX moved with a correlation of 0.57, which is moderate. Little has changed lately, as the 1-year reading of 0.56 lands near the 3-year figure. Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 859.8 %².
Within IBB's tracked universe of 168 assets, QTRX comes in at #52 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months IBB outperformed by 98.1 percentage points (+55.4% for IBB against -42.7% for QTRX). One caveat on sizing: QTRX is 3.5 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 QTRX: side by side
| IBB (iShares Biotechnology ETF) | QTRX (Quanterix Corporation) | |
|---|---|---|
| 1-year return | +55.4% | -42.7% |
| 5-year return | +26.6% | -94.7% |
| Volatility (ann.) | 20.7% | 73.1% |
| Beta vs S&P 500 | 0.81 | 1.18 |
| Max drawdown (3Y) | -24.9% | -91.6% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.22% | 0.00% |
| Expense ratio | 0.44% | – |
| Assets under management | $9.2B | – |
| Sector / category | ETF · Thematic | US Listed |
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 | QTRX |
|---|---|---|
| 2022 | -13.7% | -67.3% |
| 2023 | +3.8% | +97.4% |
| 2024 | -2.4% | -61.1% |
| 2025 | +28.0% | -40.2% |
| 2026 | +27.4% | -58.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBB and QTRX good diversifiers for each other?
To a limited degree. At 0.57 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between IBB and QTRX?
The IBB/QTRX correlation stands at 0.57 on a 3-year window (1 year: 0.56, 5 years: 0.53), computed from weekly returns as of 2026-08-27.
Is QTRX a good diversifier for IBB?
To a limited degree. At 0.57 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.57 mean?
On the −1 to +1 scale, 0.57 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-qtrx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ibb-vs-qtrx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IBB correlations · QTRX correlations
