IBB vs SNDX: Correlation
iShares Biotechnology ETF (IBB) and Syndax Pharmaceuticals, Inc. (SNDX) 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 SNDX?
On 3 years of weekly data the IBB/SNDX correlation comes out at 0.58, moderate. The past 12 months show a weaker link (0.37) than the 3-year average (0.58). The 5-year figure is 0.53, and annualized covariance runs at 693.1 %².
By 3-year correlation, SNDX places #46 of the 168 assets tracked against IBB. Correlation aside, the last 12 months split them widely, with IBB ahead by 31.4 points (+55.4% versus +24.0%). Note the risk asymmetry: SNDX 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 SNDX: side by side
| IBB (iShares Biotechnology ETF) | SNDX (Syndax Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | +55.4% | +24.0% |
| 5-year return | +26.6% | +16.9% |
| Volatility (ann.) | 20.7% | 57.8% |
| Beta vs S&P 500 | 0.81 | 1.25 |
| Max drawdown (3Y) | -24.9% | -64.8% |
| Market cap | – | $1.8B |
| 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, 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 | SNDX |
|---|---|---|
| 2022 | -13.7% | +16.3% |
| 2023 | +3.8% | -15.1% |
| 2024 | -2.4% | -38.8% |
| 2025 | +28.0% | +58.9% |
| 2026 | +27.4% | -4.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
SNDX represents 0.11% of IBB's portfolio, so part of any move in IBB is SNDX itself, and the correlation between them is partly mechanical.
Are IBB and SNDX good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between IBB and SNDX?
As of 2026-08-27, the correlation of weekly returns between IBB and SNDX is 0.58 over 3 years, 0.37 over 1 year and 0.53 over 5 years.
Is SNDX a good diversifier for IBB?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 mean?
A reading of 0.58 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ibb-vs-sndx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ibb-vs-sndx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IBB correlations · SNDX correlations
