ABCL vs XBI: Correlation
Measured on weekly returns over the past three years, AbCellera Biologics Inc. (ABCL) and SPDR S&P Biotech ETF (XBI) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABCL and XBI?
Over the past 3 years, ABCL and XBI moved with a correlation of 0.50, which is moderate. The relationship has been stable: the 1-year correlation (0.45) sits close to the 3-year figure. Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 1106.9 %².
Within ABCL's tracked universe of 17 assets, XBI comes in at #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ABCL outperformed by 97.9 percentage points (+185.1% for ABCL against +87.2% for XBI). Risk is not evenly split, since ABCL carries 2.9 times the volatility of the other side.
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.
ABCL vs XBI: side by side
| ABCL (AbCellera Biologics Inc.) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +185.1% | +87.2% |
| 5-year return | -28.5% | +28.6% |
| Volatility (ann.) | 80.2% | 27.7% |
| Beta vs S&P 500 | 1.75 | 1.09 |
| Max drawdown (3Y) | -67.7% | -33.0% |
| Market cap | $4.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | ABCL | XBI |
|---|---|---|
| 2022 | -29.2% | -25.9% |
| 2023 | -43.6% | +7.6% |
| 2024 | -48.7% | +1.0% |
| 2025 | +16.7% | +35.9% |
| 2026 | +262.6% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABCL and XBI good diversifiers for each other?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ABCL and XBI?
As of 2026-08-27, the correlation of weekly returns between ABCL and XBI is 0.50 over 3 years, 0.45 over 1 year and 0.51 over 5 years.
Is XBI a good diversifier for ABCL?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.50 mean?
A reading of 0.50 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: ABCL correlations · XBI correlations
