EDIT vs XBI: Correlation
Editas Medicine, Inc. (EDIT) and SPDR S&P Biotech ETF (XBI) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EDIT and XBI?
On 3 years of weekly data the EDIT/XBI correlation comes out at 0.64, strong. Recent behaviour matches the longer record: 0.60 over 1 year against 0.64 over 3. The 5-year figure is 0.66, and annualized covariance runs at 1531.5 %².
XBI is one of the assets that tracks EDIT most closely: it ranks #2 out of the 22 assets we track against EDIT. The last year tells two different stories: XBI led by 63.6 percentage points, +23.6% for EDIT against +87.2% for XBI. One caveat on sizing: EDIT is 3.1 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.
EDIT vs XBI: side by side
| EDIT (Editas Medicine, Inc.) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +23.6% | +87.2% |
| 5-year return | -94.7% | +28.6% |
| Volatility (ann.) | 86.8% | 27.7% |
| Beta vs S&P 500 | 2.56 | 1.09 |
| Max drawdown (3Y) | -91.2% | -33.0% |
| Market cap | $0.5B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | EDIT | XBI |
|---|---|---|
| 2022 | -66.6% | -25.9% |
| 2023 | +14.2% | +7.6% |
| 2024 | -87.5% | +1.0% |
| 2025 | +61.4% | +35.9% |
| 2026 | +61.0% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EDIT and XBI good diversifiers for each other?
Only partially. A correlation of 0.64 means EDIT and XBI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between EDIT and XBI?
Using weekly returns as of 2026-08-27: 0.64 over 3 years, with 0.60 over the last year and 0.66 over 5 years.
Is XBI a good diversifier for EDIT?
Only partially. A correlation of 0.64 means EDIT and XBI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.64 mean?
On the −1 to +1 scale, 0.64 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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Related comparisons
Hubs: EDIT correlations · XBI correlations
