IBKR vs SHY: Correlation
Interactive Brokers (IBKR) and iShares 1-3 Year Treasury Bond ETF (SHY) show a negative relationship: their 3-year correlation of weekly returns is -0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBKR and SHY?
Across a 3-year window, the weekly returns of IBKR and SHY correlate at -0.30, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.05) runs above the 3-year figure (-0.30). Stretching to 5 years gives -0.22, with an annualized covariance of -15.8 %².
Out of 32 assets tracked against IBKR, SHY lands near the bottom at #29. The last year tells two different stories: IBKR led by 54.5 percentage points, +57.0% for IBKR against +2.5% for SHY. The relationship is regime-dependent: the rolling one-year correlation swung between -0.60 and 0.08 over the past three years, so this pair behaves very differently depending on the market environment. One caveat on sizing: IBKR is 21.2 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.
IBKR vs SHY: side by side
| IBKR (Interactive Brokers) | SHY (iShares 1-3 Year Treasury Bond ETF) | |
|---|---|---|
| 1-year return | +57.0% | +2.5% |
| 5-year return | +516.0% | +9.6% |
| Volatility (ann.) | 33.9% | 1.6% |
| Beta vs S&P 500 | 1.37 | 0.00 |
| Max drawdown (3Y) | -38.7% | -1.0% |
| Market cap | $164.5B | – |
| P/E (trailing) | 38.5 | – |
| Dividend yield | 0.34% | 3.65% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $25.1B |
| Sector / category | Financials | ETF · Bonds |
SHY, iShares's Short Government fund, carries $25.1B under management, a 0.15% expense ratio, a 3.65% trailing dividend yield.
Year-by-year returns
| Year | IBKR | SHY |
|---|---|---|
| 2022 | -8.4% | -3.9% |
| 2023 | +15.1% | +4.2% |
| 2024 | +114.4% | +3.9% |
| 2025 | +46.4% | +5.0% |
| 2026 | +50.4% | +1.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBKR and SHY good diversifiers for each other?
Yes. With a correlation of -0.30, IBKR and SHY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between IBKR and SHY?
Using weekly returns as of 2026-08-27: -0.30 over 3 years, with 0.05 over the last year and -0.22 over 5 years.
Is SHY a good diversifier for IBKR?
Yes. With a correlation of -0.30, IBKR and SHY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.30 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-shy.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ibkr-vs-shy/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IBKR correlations · SHY correlations
