ADPT vs XBI: Correlation
How closely do Adaptive Biotechnologies Corporation (ADPT) and SPDR S&P Biotech ETF (XBI) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADPT and XBI?
Across a 3-year window, the weekly returns of ADPT and XBI correlate at 0.52, moderate. The past 12 months show a weaker link (0.41) than the 3-year average (0.52). Stretching to 5 years gives 0.61, with an annualized covariance of 994.4 %².
XBI is one of the assets that tracks ADPT most closely: it ranks #3 out of the 12 assets we track against ADPT. Their recent paths diverged sharply: over the last 12 months ADPT outperformed by 16.7 percentage points (+103.9% for ADPT against +87.2% for XBI). One caveat on sizing: ADPT is 2.5 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.
ADPT vs XBI: side by side
| ADPT (Adaptive Biotechnologies Corporation) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +103.9% | +87.2% |
| 5-year return | -26.1% | +28.6% |
| Volatility (ann.) | 69.8% | 27.7% |
| Beta vs S&P 500 | 1.40 | 1.09 |
| Max drawdown (3Y) | -65.8% | -33.0% |
| Market cap | $4.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | ADPT | XBI |
|---|---|---|
| 2022 | -72.8% | -25.9% |
| 2023 | -35.9% | +7.6% |
| 2024 | +22.3% | +1.0% |
| 2025 | +170.9% | +35.9% |
| 2026 | +62.8% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADPT and XBI good diversifiers for each other?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ADPT and XBI?
The ADPT/XBI correlation stands at 0.52 on a 3-year window (1 year: 0.41, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is XBI a good diversifier for ADPT?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.52 mean?
On the −1 to +1 scale, 0.52 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: ADPT correlations · XBI correlations
