ARKK vs XBI: Correlation
ARK Innovation ETF (ARKK) and SPDR S&P Biotech ETF (XBI) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARKK and XBI?
Over the past 3 years, ARKK and XBI moved with a correlation of 0.64, which is strong. The relationship has been stable: the 1-year correlation (0.62) sits close to the 3-year figure. Over 5 years the correlation is 0.74, and the annualized covariance of weekly returns is 689.9 %².
By 3-year correlation, XBI places #24 of the 122 assets tracked against ARKK. The last year tells two different stories: XBI led by 71.5 percentage points, +15.7% for ARKK against +87.2% for XBI. The rolling one-year correlation moved between 0.49 and 0.82 over the past three years, a moderate range.
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.
ARKK vs XBI: side by side
| ARKK (ARK Innovation ETF) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +15.7% | +87.2% |
| 5-year return | -27.7% | +28.6% |
| Volatility (ann.) | 38.8% | 27.7% |
| Beta vs S&P 500 | 2.07 | 1.09 |
| Max drawdown (3Y) | -39.6% | -33.0% |
| Sector / category | ETF · Thematic | ETF · Thematic |
Year-by-year returns
| Year | ARKK | XBI |
|---|---|---|
| 2022 | -67.0% | -25.9% |
| 2023 | +69.0% | +7.6% |
| 2024 | +8.4% | +1.0% |
| 2025 | +35.5% | +35.9% |
| 2026 | +13.6% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARKK and XBI good diversifiers for each other?
To a limited degree. At 0.64 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 ARKK and XBI?
Using weekly returns as of 2026-08-27: 0.64 over 3 years, with 0.62 over the last year and 0.74 over 5 years.
Is XBI a good diversifier for ARKK?
To a limited degree. At 0.64 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 0.64 mean?
A reading of 0.64 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/arkk-vs-xbi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/arkk-vs-xbi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ARKK correlations · XBI correlations
