ABUS vs XBI: Correlation
Measured on weekly returns over the past three years, Arbutus Biopharma Corporation (ABUS) and SPDR S&P Biotech ETF (XBI) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABUS and XBI?
On 3 years of weekly data the ABUS/XBI correlation comes out at 0.40, moderate. The past 12 months show a tighter link (0.53) than the 3-year average (0.40). The 5-year figure is 0.37, and annualized covariance runs at 456.4 %².
By 3-year correlation, XBI places #5 of the 11 assets tracked against ABUS. Their recent paths diverged sharply: over the last 12 months XBI outperformed by 45.6 percentage points (+41.6% for ABUS against +87.2% for XBI).
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.
ABUS vs XBI: side by side
| ABUS (Arbutus Biopharma Corporation) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +41.6% | +87.2% |
| 5-year return | +53.0% | +28.6% |
| Volatility (ann.) | 41.5% | 27.7% |
| Beta vs S&P 500 | 0.46 | 1.09 |
| Max drawdown (3Y) | -36.8% | -33.0% |
| Market cap | $1.0B | – |
| P/E (trailing) | 6.5 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | ABUS | XBI |
|---|---|---|
| 2022 | -40.1% | -25.9% |
| 2023 | +7.3% | +7.6% |
| 2024 | +30.8% | +1.0% |
| 2025 | +47.1% | +35.9% |
| 2026 | +7.5% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABUS and XBI good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ABUS and XBI?
As of 2026-08-27, the correlation of weekly returns between ABUS and XBI is 0.40 over 3 years, 0.53 over 1 year and 0.37 over 5 years.
Is XBI a good diversifier for ABUS?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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/abus-vs-xbi.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: ABUS correlations · XBI correlations
