IBTA vs SGA: Correlation
How closely do Ibotta, Inc. (IBTA) and Saga Communications, Inc. (SGA) trade together? Their weekly returns over three years give a correlation of 0.35, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBTA and SGA?
Across a 3-year window, the weekly returns of IBTA and SGA correlate at 0.35, moderate. The past 12 months show a tighter link (0.58) than the 3-year average (0.35). Stretching to 5 years gives n/a, with an annualized covariance of 801.3 %².
By 3-year correlation, SGA places #12 of the 19 assets tracked against IBTA. The last year tells two different stories: IBTA led by 65.6 percentage points, +42.3% for IBTA against -23.3% for SGA. Note the risk asymmetry: IBTA runs 2.6 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.
IBTA vs SGA: side by side
| IBTA (Ibotta, Inc.) | SGA (Saga Communications, Inc.) | |
|---|---|---|
| 1-year return | +42.3% | -23.3% |
| 5-year return | n/a | -34.9% |
| Volatility (ann.) | 79.0% | 30.7% |
| Beta vs S&P 500 | 1.45 | 0.43 |
| Max drawdown (3Y) | -82.5% | -58.1% |
| Market cap | $0.8B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 10.95% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IBTA | SGA |
|---|---|---|
| 2022 | – | +16.8% |
| 2023 | – | +6.8% |
| 2024 | – | -45.9% |
| 2025 | -65.1% | +12.4% |
| 2026 | +60.2% | -18.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBTA and SGA good diversifiers for each other?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between IBTA and SGA?
As of 2026-08-27, the correlation of weekly returns between IBTA and SGA is 0.35 over 3 years, 0.58 over 1 year and n/a over 5 years.
Is SGA a good diversifier for IBTA?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.35 mean?
A reading of 0.35 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: IBTA correlations · SGA correlations
