ABSI vs XBI: Correlation
How closely do Absci Corporation (ABSI) and SPDR S&P Biotech ETF (XBI) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABSI and XBI?
On 3 years of weekly data the ABSI/XBI correlation comes out at 0.54, moderate. Recent behaviour matches the longer record: 0.53 over 1 year against 0.54 over 3. The 5-year figure is 0.54, and annualized covariance runs at 1427.5 %².
In ABSI's tracked universe of 12 assets, XBI sits right near the top at #2. The last year tells two different stories: ABSI led by 182.2 percentage points, +269.4% for ABSI against +87.2% for XBI. One caveat on sizing: ABSI is 3.4 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.
ABSI vs XBI: side by side
| ABSI (Absci Corporation) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +269.4% | +87.2% |
| 5-year return | -48.3% | +28.6% |
| Volatility (ann.) | 95.4% | 27.7% |
| Beta vs S&P 500 | 2.32 | 1.09 |
| Max drawdown (3Y) | -66.1% | -33.0% |
| Market cap | $1.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | ABSI | XBI |
|---|---|---|
| 2022 | -74.4% | -25.9% |
| 2023 | +100.0% | +7.6% |
| 2024 | -37.6% | +1.0% |
| 2025 | +33.2% | +35.9% |
| 2026 | +169.9% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABSI and XBI good diversifiers for each other?
Only partially. A correlation of 0.54 means ABSI and XBI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ABSI and XBI?
As of 2026-08-27, the correlation of weekly returns between ABSI and XBI is 0.54 over 3 years, 0.53 over 1 year and 0.54 over 5 years.
Is XBI a good diversifier for ABSI?
Only partially. A correlation of 0.54 means ABSI and XBI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.54 mean?
On the −1 to +1 scale, 0.54 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
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Related comparisons
Hubs: ABSI correlations · XBI correlations
