IBN vs IFN: Correlation
How closely do ICICI Bank Limited (IBN) and Aberdeen India Fund, Inc. (IFN) trade together? Their weekly returns over three years give a correlation of 0.59, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBN and IFN?
Over the past 3 years, IBN and IFN moved with a correlation of 0.59, which is moderate. The past 12 months show a tighter link (0.70) than the 3-year average (0.59). Over 5 years the correlation is 0.60, and the annualized covariance of weekly returns is 243.4 %².
Few assets follow IBN as closely as IFN, which ranks #2 of 12 tracked partners. On 12-month performance IBN holds a 8.2-point edge, -5.8% against -14.0%.
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.
IBN vs IFN: side by side
| IBN (ICICI Bank Limited) | IFN (Aberdeen India Fund, Inc.) | |
|---|---|---|
| 1-year return | -5.8% | -14.0% |
| 5-year return | +60.9% | +1.4% |
| Volatility (ann.) | 20.2% | 20.3% |
| Beta vs S&P 500 | 0.46 | 0.74 |
| Max drawdown (3Y) | -26.2% | -33.9% |
| Market cap | $107.1B | $0.5B |
| P/E (trailing) | 18.7 | – |
| Dividend yield | 0.00% | 19.23% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IBN | IFN |
|---|---|---|
| 2022 | +11.3% | -15.8% |
| 2023 | +9.8% | +36.5% |
| 2024 | +26.3% | -2.3% |
| 2025 | +0.6% | -3.0% |
| 2026 | +1.0% | -7.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBN and IFN good diversifiers for each other?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between IBN and IFN?
As of 2026-08-27, the correlation of weekly returns between IBN and IFN is 0.59 over 3 years, 0.70 over 1 year and 0.60 over 5 years.
Is IFN a good diversifier for IBN?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.59 mean?
A reading of 0.59 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: IBN correlations · IFN correlations
