IBKR vs IEF: Correlation
How closely do Interactive Brokers (IBKR) and iShares 7-10 Year Treasury Bond ETF (IEF) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBKR and IEF?
Across a 3-year window, the weekly returns of IBKR and IEF correlate at -0.25, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.10) runs above the 3-year figure (-0.25). Stretching to 5 years gives -0.23, with an annualized covariance of -55.7 %².
Within IBKR's tracked universe of 32 assets, IEF comes in at #26 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months IBKR outperformed by 56.1 percentage points (+57.0% for IBKR against +0.9% for IEF). The relationship is regime-dependent: the rolling one-year correlation swung between -0.56 and 0.11 over the past three years, so this pair behaves very differently depending on the market environment. Note the risk asymmetry: IBKR runs 5.2 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.
IBKR vs IEF: side by side
| IBKR (Interactive Brokers) | IEF (iShares 7-10 Year Treasury Bond ETF) | |
|---|---|---|
| 1-year return | +57.0% | +0.9% |
| 5-year return | +516.0% | -7.9% |
| Volatility (ann.) | 33.9% | 6.5% |
| Beta vs S&P 500 | 1.37 | 0.04 |
| Max drawdown (3Y) | -38.7% | -6.9% |
| Market cap | $164.5B | – |
| P/E (trailing) | 38.5 | – |
| Dividend yield | 0.34% | 3.96% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $47.2B |
| Sector / category | Financials | ETF · Bonds |
On the fund side, IEF sits in the Long Government category at iShares, with $47.2B under management, a 0.15% expense ratio, a 3.96% trailing dividend yield.
Year-by-year returns
| Year | IBKR | IEF |
|---|---|---|
| 2022 | -8.4% | -15.2% |
| 2023 | +15.1% | +3.6% |
| 2024 | +114.4% | -0.6% |
| 2025 | +46.4% | +8.0% |
| 2026 | +50.4% | -0.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBKR and IEF good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between IBKR and IEF?
The IBKR/IEF correlation stands at -0.25 on a 3-year window (1 year: 0.10, 5 years: -0.23), computed from weekly returns as of 2026-08-27.
Is IEF a good diversifier for IBKR?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 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/ibkr-vs-ief.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ibkr-vs-ief/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IBKR correlations · IEF correlations
