IBB vs VRDN: Correlation
How closely do iShares Biotechnology ETF (IBB) and Viridian Therapeutics, Inc. (VRDN) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBB and VRDN?
Over the past 3 years, IBB and VRDN moved with a correlation of 0.52, which is moderate. The past 12 months show a weaker link (0.28) than the 3-year average (0.52). Over 5 years the correlation is 0.35, and the annualized covariance of weekly returns is 716.1 %².
Among the 168 assets we track against IBB, VRDN ranks #84 by 3-year correlation. Correlation aside, the last 12 months split them widely, with IBB ahead by 26.7 points (+55.4% versus +28.7%). Note the risk asymmetry: VRDN runs 3.2 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 VRDN: side by side
| IBB (iShares Biotechnology ETF) | VRDN (Viridian Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +55.4% | +28.7% |
| 5-year return | +26.6% | +80.0% |
| Volatility (ann.) | 20.7% | 66.8% |
| Beta vs S&P 500 | 0.81 | 1.27 |
| Max drawdown (3Y) | -24.9% | -60.6% |
| Market cap | – | $2.7B |
| P/E (trailing) | – | – |
| Dividend yield | 0.22% | 0.00% |
| Expense ratio | 0.44% | – |
| Assets under management | $9.2B | – |
| Sector / category | ETF · Thematic | US Listed |
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 | VRDN |
|---|---|---|
| 2022 | -13.7% | +47.7% |
| 2023 | +3.8% | -25.4% |
| 2024 | -2.4% | -12.0% |
| 2025 | +28.0% | +62.3% |
| 2026 | +27.4% | -23.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBB and VRDN good diversifiers for each other?
To a limited degree. At 0.52 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 VRDN?
As of 2026-08-27, the correlation of weekly returns between IBB and VRDN is 0.52 over 3 years, 0.28 over 1 year and 0.35 over 5 years.
Is VRDN a good diversifier for IBB?
To a limited degree. At 0.52 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 0.52 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-vrdn.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ibb-vs-vrdn/)
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Related comparisons
Hubs: IBB correlations · VRDN correlations
