BIIB vs SPOT: Correlation
Biogen (BIIB) and Spotify Technology S.A. (SPOT) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BIIB and SPOT?
Across a 3-year window, the weekly returns of BIIB and SPOT correlate at -0.19, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.21) sits close to the 3-year figure. Stretching to 5 years gives -0.00, with an annualized covariance of -225.7 %².
Within BIIB's tracked universe of 32 assets, SPOT comes in at #26 by 3-year correlation. The last year tells two different stories: BIIB led by 86.3 percentage points, +62.4% for BIIB against -23.9% for SPOT.
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.
BIIB vs SPOT: side by side
| BIIB (Biogen) | SPOT (Spotify Technology S.A.) | |
|---|---|---|
| 1-year return | +62.4% | -23.9% |
| 5-year return | -35.7% | +126.2% |
| Volatility (ann.) | 30.1% | 39.5% |
| Beta vs S&P 500 | 0.53 | 0.85 |
| Max drawdown (3Y) | -57.7% | -46.8% |
| Market cap | $32.7B | $108.4B |
| P/E (trailing) | 39.2 | 29.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | BIIB | SPOT |
|---|---|---|
| 2022 | +15.4% | -66.3% |
| 2023 | -6.6% | +138.0% |
| 2024 | -40.9% | +138.1% |
| 2025 | +15.1% | +29.8% |
| 2026 | +25.9% | -9.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BIIB and SPOT good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BIIB and SPOT?
As of 2026-08-27, the correlation of weekly returns between BIIB and SPOT is -0.19 over 3 years, -0.21 over 1 year and -0.00 over 5 years.
Is SPOT a good diversifier for BIIB?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 mean?
A reading of -0.19 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/biib-vs-spot.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/biib-vs-spot/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BIIB correlations · SPOT correlations
