ANAB vs XBI: Correlation
Measured on weekly returns over the past three years, AnaptysBio, Inc. (ANAB) 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 ANAB and XBI?
On 3 years of weekly data the ANAB/XBI correlation comes out at 0.40, moderate. The past 12 months show a weaker link (0.13) than the 3-year average (0.40). The 5-year figure is 0.38, and annualized covariance runs at 823.1 %².
In ANAB's tracked universe of 10 assets, XBI sits right near the top at #2. The last year tells two different stories: ANAB led by 234.0 percentage points, +321.2% for ANAB against +87.2% for XBI. Note the risk asymmetry: ANAB runs 2.7 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.
ANAB vs XBI: side by side
| ANAB (AnaptysBio, Inc.) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +321.2% | +87.2% |
| 5-year return | +243.9% | +28.6% |
| Volatility (ann.) | 74.9% | 27.7% |
| Beta vs S&P 500 | 1.03 | 1.09 |
| Max drawdown (3Y) | -69.3% | -33.0% |
| Market cap | $1.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | ANAB | XBI |
|---|---|---|
| 2022 | -10.8% | -25.9% |
| 2023 | -30.9% | +7.6% |
| 2024 | -38.2% | +1.0% |
| 2025 | +266.2% | +35.9% |
| 2026 | +77.3% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANAB and XBI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ANAB and XBI?
As of 2026-08-27, the correlation of weekly returns between ANAB and XBI is 0.40 over 3 years, 0.13 over 1 year and 0.38 over 5 years.
Is XBI a good diversifier for ANAB?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 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/anab-vs-xbi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/anab-vs-xbi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ANAB correlations · XBI correlations
