BBOT vs XAIR: Correlation
How closely do BridgeBio Oncology Therapeutics, Inc. (BBOT) and Beyond Air, Inc. (XAIR) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBOT and XAIR?
Across a 3-year window, the weekly returns of BBOT and XAIR correlate at -0.22, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.27 over 1 year against -0.22 over 3. Stretching to 5 years gives n/a, with an annualized covariance of -827.9 %².
By 3-year correlation, XAIR places #17 of the 27 assets tracked against BBOT. Correlation aside, the last 12 months split them widely, with BBOT ahead by 86.2 points (-1.3% versus -87.5%). One caveat on sizing: XAIR is 3.1 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.
BBOT vs XAIR: side by side
| BBOT (BridgeBio Oncology Therapeutics, Inc.) | XAIR (Beyond Air, Inc.) | |
|---|---|---|
| 1-year return | -1.3% | -87.5% |
| 5-year return | n/a | -99.9% |
| Volatility (ann.) | 34.5% | 106.7% |
| Beta vs S&P 500 | 0.30 | 0.35 |
| Max drawdown (3Y) | -48.1% | -99.6% |
| Market cap | $0.7B | – |
| P/E (trailing) | – | 0.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BBOT | XAIR |
|---|---|---|
| 2022 | – | -31.2% |
| 2023 | – | -69.8% |
| 2024 | – | -81.7% |
| 2025 | +19.2% | -89.9% |
| 2026 | -26.7% | -60.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BBOT and XAIR good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BBOT and XAIR?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.27 over the last year and n/a over 5 years.
Is XAIR a good diversifier for BBOT?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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/bbot-vs-xair.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bbot-vs-xair/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BBOT correlations · XAIR correlations
