ABAT vs XBIT: Correlation
American Battery Technology Company (ABAT) and XBiotech Inc. (XBIT) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABAT and XBIT?
Across a 3-year window, the weekly returns of ABAT and XBIT correlate at -0.22, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.15) runs above the 3-year figure (-0.22). Stretching to 5 years gives -0.14, with an annualized covariance of -2058.8 %².
Among the 29 assets we track against ABAT, XBIT sits near the bottom by co-movement, at rank #29. Their recent paths diverged sharply: over the last 12 months ABAT outperformed by 36.0 percentage points (+2.1% for ABAT against -33.9% for XBIT). Note the risk asymmetry: ABAT runs 2.5 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.
ABAT vs XBIT: side by side
| ABAT (American Battery Technology Company) | XBIT (XBiotech Inc.) | |
|---|---|---|
| 1-year return | +2.1% | -33.9% |
| 5-year return | -88.8% | -85.8% |
| Volatility (ann.) | 153.9% | 60.9% |
| Beta vs S&P 500 | 2.08 | 1.09 |
| Max drawdown (3Y) | -93.2% | -78.6% |
| Market cap | $0.4B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ABAT | XBIT |
|---|---|---|
| 2022 | -62.0% | -68.5% |
| 2023 | -23.2% | +14.0% |
| 2024 | -47.5% | -1.2% |
| 2025 | +35.8% | -39.5% |
| 2026 | -19.9% | -3.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABAT and XBIT good diversifiers for each other?
Yes. With a correlation of -0.22, ABAT and XBIT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ABAT and XBIT?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with 0.15 over the last year and -0.14 over 5 years.
Is XBIT a good diversifier for ABAT?
Yes. With a correlation of -0.22, ABAT and XBIT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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/abat-vs-xbit.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/abat-vs-xbit/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ABAT correlations · XBIT correlations
