BNTC vs XEL: Correlation
Measured on weekly returns over the past three years, Benitec Biopharma Inc. (BNTC) and Xcel Energy (XEL) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BNTC and XEL?
Over the past 3 years, BNTC and XEL moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.09) runs above the 3-year figure (-0.20). Over 5 years the correlation is -0.08, and the annualized covariance of weekly returns is -282.6 %².
Among the 10 assets we track against BNTC, XEL sits near the bottom by co-movement, at rank #9. On 12-month performance XEL holds a 10.7-point edge, -1.5% against +9.2%. Risk is not evenly split, since BNTC carries 3.3 times the volatility of the other side.
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.
BNTC vs XEL: side by side
| BNTC (Benitec Biopharma Inc.) | XEL (Xcel Energy) | |
|---|---|---|
| 1-year return | -1.5% | +9.2% |
| 5-year return | -82.5% | +31.1% |
| Volatility (ann.) | 69.3% | 20.7% |
| Beta vs S&P 500 | 0.83 | 0.09 |
| Max drawdown (3Y) | -40.1% | -24.0% |
| Market cap | $0.4B | $48.2B |
| P/E (trailing) | – | 21.3 |
| Dividend yield | 0.00% | 2.99% |
| Sector / category | US Listed | Utilities |
Year-by-year returns
| Year | BNTC | XEL |
|---|---|---|
| 2022 | -93.5% | +6.4% |
| 2023 | +11.8% | -8.7% |
| 2024 | +291.0% | +12.3% |
| 2025 | +6.7% | +13.9% |
| 2026 | -5.9% | +6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BNTC and XEL good diversifiers for each other?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BNTC and XEL?
As of 2026-08-27, the correlation of weekly returns between BNTC and XEL is -0.20 over 3 years, -0.09 over 1 year and -0.08 over 5 years.
Is XEL a good diversifier for BNTC?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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/bntc-vs-xel.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bntc-vs-xel/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BNTC correlations · XEL correlations
