IBTA vs SURG: Correlation
Measured on weekly returns over the past three years, Ibotta, Inc. (IBTA) and SurgePays, Inc. (SURG) carry a correlation of 0.35, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBTA and SURG?
Across a 3-year window, the weekly returns of IBTA and SURG correlate at 0.35, moderate. The link has tightened recently: the 1-year correlation (0.45) runs above the 3-year figure (0.35). Stretching to 5 years gives n/a, with an annualized covariance of 2677.1 %².
Within IBTA's tracked universe of 19 assets, SURG comes in at #13 by 3-year correlation. The last year tells two different stories: IBTA led by 135.4 percentage points, +42.3% for IBTA against -93.1% for SURG.
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 SURG: side by side
| IBTA (Ibotta, Inc.) | SURG (SurgePays, Inc.) | |
|---|---|---|
| 1-year return | +42.3% | -93.1% |
| 5-year return | n/a | -96.6% |
| Volatility (ann.) | 79.0% | 93.9% |
| Beta vs S&P 500 | 1.45 | 1.13 |
| Max drawdown (3Y) | -82.5% | -98.1% |
| Market cap | $0.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IBTA | SURG |
|---|---|---|
| 2022 | – | +224.8% |
| 2023 | – | -1.7% |
| 2024 | – | -72.4% |
| 2025 | -65.1% | -6.2% |
| 2026 | +60.2% | -89.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBTA and SURG good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between IBTA and SURG?
As of 2026-08-27, the correlation of weekly returns between IBTA and SURG is 0.35 over 3 years, 0.45 over 1 year and n/a over 5 years.
Is SURG a good diversifier for IBTA?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 mean?
On the −1 to +1 scale, 0.35 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/ibta-vs-surg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ibta-vs-surg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IBTA correlations · SURG correlations
