IBB vs TVTX: Correlation
iShares Biotechnology ETF (IBB) and Travere Therapeutics, Inc. (TVTX) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBB and TVTX?
On 3 years of weekly data the IBB/TVTX correlation comes out at 0.45, moderate. Recent behaviour matches the longer record: 0.41 over 1 year against 0.45 over 3. The 5-year figure is 0.39, and annualized covariance runs at 677.1 %².
By 3-year correlation, TVTX places #125 of the 168 assets tracked against IBB. Correlation aside, the last 12 months split them widely, with TVTX ahead by 231.8 points (+55.4% versus +287.2%). Risk is not evenly split, since TVTX carries 3.5 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 TVTX: side by side
| IBB (iShares Biotechnology ETF) | TVTX (Travere Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +55.4% | +287.2% |
| 5-year return | +26.6% | +213.8% |
| Volatility (ann.) | 20.7% | 72.5% |
| Beta vs S&P 500 | 0.81 | 1.67 |
| Max drawdown (3Y) | -24.9% | -64.6% |
| Market cap | – | $6.4B |
| 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 | TVTX |
|---|---|---|
| 2022 | -13.7% | -32.2% |
| 2023 | +3.8% | -57.3% |
| 2024 | -2.4% | +93.8% |
| 2025 | +28.0% | +119.3% |
| 2026 | +27.4% | +76.7% |
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 TVTX at a 0.42% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are IBB and TVTX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between IBB and TVTX?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.41 over the last year and 0.39 over 5 years.
Is TVTX a good diversifier for IBB?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 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-tvtx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ibb-vs-tvtx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IBB correlations · TVTX correlations
