IBIO vs PMEC: Correlation
How closely do iBio, Inc. (IBIO) and Primech Holdings Ltd. (PMEC) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBIO and PMEC?
Across a 3-year window, the weekly returns of IBIO and PMEC correlate at -0.24, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.06) than the 3-year average (-0.24). Stretching to 5 years gives n/a, with an annualized covariance of -5025.2 %².
PMEC is close to the least connected end of IBIO's tracked universe, ranking #11 of 13. Their recent paths diverged sharply: over the last 12 months IBIO outperformed by 137.3 percentage points (+72.8% for IBIO against -64.5% for PMEC). One caveat on sizing: IBIO is 1.9 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.
IBIO vs PMEC: side by side
| IBIO (iBio, Inc.) | PMEC (Primech Holdings Ltd.) | |
|---|---|---|
| 1-year return | +72.8% | -64.5% |
| 5-year return | -99.8% | n/a |
| Volatility (ann.) | 196.4% | 103.1% |
| Beta vs S&P 500 | 1.36 | 0.88 |
| Max drawdown (3Y) | -92.9% | -89.9% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IBIO | PMEC |
|---|---|---|
| 2022 | -96.8% | – |
| 2023 | -84.4% | – |
| 2024 | +78.8% | -71.9% |
| 2025 | -21.2% | +51.1% |
| 2026 | -27.5% | -48.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBIO and PMEC good diversifiers for each other?
Yes. With a correlation of -0.24, IBIO and PMEC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between IBIO and PMEC?
As of 2026-08-27, the correlation of weekly returns between IBIO and PMEC is -0.24 over 3 years, 0.06 over 1 year and n/a over 5 years.
Is PMEC a good diversifier for IBIO?
Yes. With a correlation of -0.24, IBIO and PMEC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 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/ibio-vs-pmec.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ibio-vs-pmec/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IBIO correlations · PMEC correlations
