COYA vs XBI: Correlation
How closely do Coya Therapeutics, Inc. (COYA) and SPDR S&P Biotech ETF (XBI) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COYA and XBI?
On 3 years of weekly data the COYA/XBI correlation comes out at 0.40, moderate. The link has tightened recently: the 1-year correlation (0.53) runs above the 3-year figure (0.40). The 5-year figure is 0.38, and annualized covariance runs at 723.8 %².
In COYA's tracked universe of 12 assets, XBI sits right near the top at #3. The last year tells two different stories: XBI led by 113.1 percentage points, -25.9% for COYA against +87.2% for XBI. One caveat on sizing: COYA is 2.4 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.
COYA vs XBI: side by side
| COYA (Coya Therapeutics, Inc.) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | -25.9% | +87.2% |
| 5-year return | n/a | +28.6% |
| Volatility (ann.) | 66.2% | 27.7% |
| Beta vs S&P 500 | 1.33 | 1.09 |
| Max drawdown (3Y) | -62.9% | -33.0% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | COYA | XBI |
|---|---|---|
| 2022 | – | -25.9% |
| 2023 | +56.4% | +7.6% |
| 2024 | -22.7% | +1.0% |
| 2025 | +1.2% | +35.9% |
| 2026 | -16.2% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COYA and XBI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between COYA and XBI?
The COYA/XBI correlation stands at 0.40 on a 3-year window (1 year: 0.53, 5 years: 0.38), computed from weekly returns as of 2026-08-27.
Is XBI a good diversifier for COYA?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 mean?
A reading of 0.40 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/coya-vs-xbi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/coya-vs-xbi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: COYA correlations · XBI correlations
