CRL vs XBI: Correlation
How closely do Charles River Laboratories (CRL) and SPDR S&P Biotech ETF (XBI) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRL and XBI?
Across a 3-year window, the weekly returns of CRL and XBI correlate at 0.54, moderate. Recent behaviour matches the longer record: 0.61 over 1 year against 0.54 over 3. Stretching to 5 years gives 0.51, with an annualized covariance of 709.8 %².
By 3-year correlation, XBI places #12 of the 33 assets tracked against CRL. The trailing year gives XBI the advantage: +82.1% versus +87.2%, a 5.1-point spread. The rolling one-year correlation moved between 0.27 and 0.73 over the past three years, a moderate range. Risk is not evenly split, since CRL carries 1.7 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.
CRL vs XBI: side by side
| CRL (Charles River Laboratories) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +82.1% | +87.2% |
| 5-year return | -33.3% | +28.6% |
| Volatility (ann.) | 47.9% | 27.7% |
| Beta vs S&P 500 | 0.92 | 1.09 |
| Max drawdown (3Y) | -63.5% | -33.0% |
| Market cap | $14.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | Health Care | ETF · Thematic |
Year-by-year returns
| Year | CRL | XBI |
|---|---|---|
| 2022 | -42.2% | -25.9% |
| 2023 | +8.5% | +7.6% |
| 2024 | -21.9% | +1.0% |
| 2025 | +8.1% | +35.9% |
| 2026 | +48.6% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRL and XBI good diversifiers for each other?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CRL and XBI?
The CRL/XBI correlation stands at 0.54 on a 3-year window (1 year: 0.61, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is XBI a good diversifier for CRL?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.54 mean?
On the −1 to +1 scale, 0.54 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
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Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: CRL correlations · XBI correlations
