BTI vs XELB: Correlation
How closely do British American Tobacco Industries, p.l.c. (BTI) and Xcel Brands, Inc (XELB) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTI and XELB?
On 3 years of weekly data the BTI/XELB correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.24 over 1 year against -0.21 over 3. The 5-year figure is -0.13, and annualized covariance runs at -403.1 %².
By 3-year correlation, XELB places #13 of the 21 assets tracked against BTI. Correlation aside, the last 12 months split them widely, with BTI ahead by 35.3 points (+4.8% versus -30.5%). One caveat on sizing: XELB is 3.8 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.
BTI vs XELB: side by side
| BTI (British American Tobacco Industries, p.l.c.) | XELB (Xcel Brands, Inc) | |
|---|---|---|
| 1-year return | +4.8% | -30.5% |
| 5-year return | +119.4% | -94.9% |
| Volatility (ann.) | 22.5% | 86.2% |
| Beta vs S&P 500 | 0.06 | 1.33 |
| Max drawdown (3Y) | -15.3% | -95.5% |
| Market cap | $121.2B | – |
| P/E (trailing) | 14.5 | – |
| Dividend yield | 4.27% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTI | XELB |
|---|---|---|
| 2022 | +15.1% | -35.8% |
| 2023 | -20.1% | +84.2% |
| 2024 | +35.4% | -60.1% |
| 2025 | +65.8% | -79.0% |
| 2026 | +2.2% | -13.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTI and XELB good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between BTI and XELB?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.24 over the last year and -0.13 over 5 years.
Is XELB a good diversifier for BTI?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 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/bti-vs-xelb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bti-vs-xelb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BTI correlations · XELB correlations
