IBB vs SGMT: Correlation
Measured on weekly returns over the past three years, iShares Biotechnology ETF (IBB) and Sagimet Biosciences Inc. - Series A (SGMT) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBB and SGMT?
On 3 years of weekly data the IBB/SGMT correlation comes out at 0.43, moderate. The past 12 months show a weaker link (0.31) than the 3-year average (0.43). The 5-year figure is n/a, and annualized covariance runs at 1132.1 %².
Among the 168 assets we track against IBB, SGMT ranks #135 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months IBB outperformed by 17.2 percentage points (+55.4% for IBB against +38.2% for SGMT). Note the risk asymmetry: SGMT runs 6.1 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 SGMT: side by side
| IBB (iShares Biotechnology ETF) | SGMT (Sagimet Biosciences Inc. - Series A) | |
|---|---|---|
| 1-year return | +55.4% | +38.2% |
| 5-year return | +26.6% | n/a |
| Volatility (ann.) | 20.7% | 126.2% |
| Beta vs S&P 500 | 0.81 | 3.24 |
| Max drawdown (3Y) | -24.9% | -89.7% |
| Market cap | – | $0.7B |
| 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 | SGMT |
|---|---|---|
| 2022 | -13.7% | – |
| 2023 | +3.8% | – |
| 2024 | -2.4% | -17.0% |
| 2025 | +28.0% | +31.6% |
| 2026 | +27.4% | +81.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBB and SGMT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between IBB and SGMT?
The IBB/SGMT correlation stands at 0.43 on a 3-year window (1 year: 0.31, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SGMT a good diversifier for IBB?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 mean?
A reading of 0.43 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: IBB correlations · SGMT correlations
