AMLX vs XBI: Correlation
Amylyx Pharmaceuticals, Inc. (AMLX) and SPDR S&P Biotech ETF (XBI) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMLX and XBI?
Across a 3-year window, the weekly returns of AMLX and XBI correlate at 0.48, moderate. The relationship has been stable: the 1-year correlation (0.44) sits close to the 3-year figure. Stretching to 5 years gives 0.36, with an annualized covariance of 1293.3 %².
In AMLX's tracked universe of 17 assets, XBI sits right near the top at #2. The last year tells two different stories: AMLX led by 206.2 percentage points, +293.4% for AMLX against +87.2% for XBI. One caveat on sizing: AMLX is 3.5 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.
AMLX vs XBI: side by side
| AMLX (Amylyx Pharmaceuticals, Inc.) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +293.4% | +87.2% |
| 5-year return | +105.8% | +28.6% |
| Volatility (ann.) | 97.8% | 27.7% |
| Beta vs S&P 500 | 1.29 | 1.09 |
| Max drawdown (3Y) | -92.6% | -33.0% |
| Market cap | $4.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | AMLX | XBI |
|---|---|---|
| 2022 | – | -25.9% |
| 2023 | -60.2% | +7.6% |
| 2024 | -74.3% | +1.0% |
| 2025 | +219.6% | +35.9% |
| 2026 | +207.8% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMLX and XBI good diversifiers for each other?
Reasonably. At 0.48, AMLX and XBI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AMLX and XBI?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.44 over the last year and 0.36 over 5 years.
Is XBI a good diversifier for AMLX?
Reasonably. At 0.48, AMLX and XBI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 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/amlx-vs-xbi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/amlx-vs-xbi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AMLX correlations · XBI correlations
