BBIO vs XBI: Correlation
How closely do BridgeBio Pharma, Inc. (BBIO) and SPDR S&P Biotech ETF (XBI) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBIO and XBI?
Across a 3-year window, the weekly returns of BBIO and XBI correlate at 0.52, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.30 versus 0.52 over 3 years. Stretching to 5 years gives 0.46, with an annualized covariance of 668.3 %².
Few assets follow BBIO as closely as XBI, which ranks #1 of 10 tracked partners. Their recent paths diverged sharply: over the last 12 months XBI outperformed by 28.5 percentage points (+58.7% for BBIO against +87.2% for XBI). One caveat on sizing: BBIO is 1.7 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.
BBIO vs XBI: side by side
| BBIO (BridgeBio Pharma, Inc.) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +58.7% | +87.2% |
| 5-year return | +61.9% | +28.6% |
| Volatility (ann.) | 46.9% | 27.7% |
| Beta vs S&P 500 | 1.02 | 1.09 |
| Max drawdown (3Y) | -49.1% | -33.0% |
| Market cap | $15.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | BBIO | XBI |
|---|---|---|
| 2022 | -54.3% | -25.9% |
| 2023 | +429.8% | +7.6% |
| 2024 | -32.0% | +1.0% |
| 2025 | +178.8% | +35.9% |
| 2026 | +2.9% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BBIO and XBI good diversifiers for each other?
To a limited degree. At 0.52 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 BBIO and XBI?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.30 over the last year and 0.46 over 5 years.
Is XBI a good diversifier for BBIO?
To a limited degree. At 0.52 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 0.52 mean?
On the −1 to +1 scale, 0.52 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.
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Related comparisons
Hubs: BBIO correlations · XBI correlations
