ARVN vs XBI: Correlation
Arvinas, Inc. (ARVN) and SPDR S&P Biotech ETF (XBI) show a moderate relationship: their 3-year correlation of weekly returns is 0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARVN and XBI?
On 3 years of weekly data the ARVN/XBI correlation comes out at 0.53, moderate. Little has changed lately, as the 1-year reading of 0.60 lands near the 3-year figure. The 5-year figure is 0.56, and annualized covariance runs at 1087.9 %².
In ARVN's tracked universe of 18 assets, XBI sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months XBI outperformed by 72.8 percentage points (+14.4% for ARVN against +87.2% for XBI). One caveat on sizing: ARVN is 2.7 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.
ARVN vs XBI: side by side
| ARVN (Arvinas, Inc.) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +14.4% | +87.2% |
| 5-year return | -89.2% | +28.6% |
| Volatility (ann.) | 73.6% | 27.7% |
| Beta vs S&P 500 | 1.55 | 1.09 |
| Max drawdown (3Y) | -88.4% | -33.0% |
| Market cap | $0.6B | – |
| P/E (trailing) | 35.5 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | ARVN | XBI |
|---|---|---|
| 2022 | -58.4% | -25.9% |
| 2023 | +20.3% | +7.6% |
| 2024 | -53.4% | +1.0% |
| 2025 | -38.1% | +35.9% |
| 2026 | -22.1% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARVN and XBI good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ARVN and XBI?
The ARVN/XBI correlation stands at 0.53 on a 3-year window (1 year: 0.60, 5 years: 0.56), computed from weekly returns as of 2026-08-27.
Is XBI a good diversifier for ARVN?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 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/arvn-vs-xbi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/arvn-vs-xbi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ARVN correlations · XBI correlations
