DYN vs XBI: Correlation
How closely do Dyne Therapeutics, Inc. (DYN) and SPDR S&P Biotech ETF (XBI) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DYN and XBI?
Over the past 3 years, DYN and XBI moved with a correlation of 0.55, which is moderate. Little has changed lately, as the 1-year reading of 0.52 lands near the 3-year figure. Over 5 years the correlation is 0.55, and the annualized covariance of weekly returns is 1202.2 %².
XBI is one of the assets that tracks DYN most closely: it ranks #1 out of the 13 assets we track against DYN. Twelve-month performance is nearly a tie, at +91.3% for DYN and +87.2% for XBI. Risk is not evenly split, since DYN carries 2.8 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.
DYN vs XBI: side by side
| DYN (Dyne Therapeutics, Inc.) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +91.3% | +87.2% |
| 5-year return | +58.2% | +28.6% |
| Volatility (ann.) | 78.6% | 27.7% |
| Beta vs S&P 500 | 1.95 | 1.09 |
| Max drawdown (3Y) | -85.5% | -33.0% |
| Market cap | $4.9B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | DYN | XBI |
|---|---|---|
| 2022 | -2.5% | -25.9% |
| 2023 | +14.8% | +7.6% |
| 2024 | +77.1% | +1.0% |
| 2025 | -17.0% | +35.9% |
| 2026 | +33.4% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DYN and XBI good diversifiers for each other?
To a limited degree. At 0.55 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 DYN and XBI?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.52 over the last year and 0.55 over 5 years.
Is XBI a good diversifier for DYN?
To a limited degree. At 0.55 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 0.55 mean?
On the −1 to +1 scale, 0.55 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/dyn-vs-xbi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dyn-vs-xbi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DYN correlations · XBI correlations
