ALLO vs XBI: Correlation
Allogene Therapeutics, Inc. (ALLO) and SPDR S&P Biotech ETF (XBI) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALLO and XBI?
On 3 years of weekly data the ALLO/XBI correlation comes out at 0.58, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.39 versus 0.58 over 3 years. The 5-year figure is 0.54, and annualized covariance runs at 1344.1 %².
In ALLO's tracked universe of 21 assets, XBI sits right near the top at #1. On 12-month performance XBI holds a 7.0-point edge, +80.2% against +87.2%. Note the risk asymmetry: ALLO runs 3.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ALLO vs XBI: side by side
| ALLO (Allogene Therapeutics, Inc.) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +80.2% | +87.2% |
| 5-year return | -91.3% | +28.6% |
| Volatility (ann.) | 83.3% | 27.7% |
| Beta vs S&P 500 | 1.96 | 1.09 |
| Max drawdown (3Y) | -83.1% | -33.0% |
| Market cap | $0.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | ALLO | XBI |
|---|---|---|
| 2022 | -57.8% | -25.9% |
| 2023 | -49.0% | +7.6% |
| 2024 | -33.6% | +1.0% |
| 2025 | -35.7% | +35.9% |
| 2026 | +52.6% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALLO and XBI good diversifiers for each other?
To a limited degree. At 0.58 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 ALLO and XBI?
Using weekly returns as of 2026-08-27: 0.58 over 3 years, with 0.39 over the last year and 0.54 over 5 years.
Is XBI a good diversifier for ALLO?
To a limited degree. At 0.58 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 0.58 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/allo-vs-xbi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/allo-vs-xbi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALLO correlations · XBI correlations
