ABEO vs XBI: Correlation
Measured on weekly returns over the past three years, Abeona Therapeutics Inc. (ABEO) and SPDR S&P Biotech ETF (XBI) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABEO and XBI?
On 3 years of weekly data the ABEO/XBI correlation comes out at 0.47, moderate. Recent behaviour matches the longer record: 0.45 over 1 year against 0.47 over 3. The 5-year figure is 0.40, and annualized covariance runs at 914.8 %².
Few assets follow ABEO as closely as XBI, which ranks #1 of 10 tracked partners. Their recent paths diverged sharply: over the last 12 months XBI outperformed by 99.7 percentage points (-12.5% for ABEO against +87.2% for XBI). One caveat on sizing: ABEO is 2.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ABEO vs XBI: side by side
| ABEO (Abeona Therapeutics Inc.) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | -12.5% | +87.2% |
| 5-year return | -81.1% | +28.6% |
| Volatility (ann.) | 70.8% | 27.7% |
| Beta vs S&P 500 | 1.33 | 1.09 |
| Max drawdown (3Y) | -63.5% | -33.0% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | ABEO | XBI |
|---|---|---|
| 2022 | -63.8% | -25.9% |
| 2023 | +62.7% | +7.6% |
| 2024 | +11.2% | +1.0% |
| 2025 | -5.4% | +35.9% |
| 2026 | +14.6% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABEO and XBI good diversifiers for each other?
Reasonably. At 0.47, ABEO and XBI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ABEO and XBI?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.45 over the last year and 0.40 over 5 years.
Is XBI a good diversifier for ABEO?
Reasonably. At 0.47, ABEO and XBI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/abeo-vs-xbi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/abeo-vs-xbi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ABEO correlations · XBI correlations
