ENTA vs XBI: Correlation
Measured on weekly returns over the past three years, Enanta Pharmaceuticals, Inc. (ENTA) and SPDR S&P Biotech ETF (XBI) carry a correlation of 0.57, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENTA and XBI?
Over the past 3 years, ENTA and XBI moved with a correlation of 0.57, which is moderate. Little has changed lately, as the 1-year reading of 0.61 lands near the 3-year figure. Over 5 years the correlation is 0.52, and the annualized covariance of weekly returns is 1121.2 %².
In ENTA's tracked universe of 15 assets, XBI sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months XBI outperformed by 25.4 percentage points (+61.8% for ENTA against +87.2% for XBI). Note the risk asymmetry: ENTA runs 2.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ENTA vs XBI: side by side
| ENTA (Enanta Pharmaceuticals, Inc.) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +61.8% | +87.2% |
| 5-year return | -75.7% | +28.6% |
| Volatility (ann.) | 70.9% | 27.7% |
| Beta vs S&P 500 | 1.57 | 1.09 |
| Max drawdown (3Y) | -75.6% | -33.0% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | ENTA | XBI |
|---|---|---|
| 2022 | -37.8% | -25.9% |
| 2023 | -79.8% | +7.6% |
| 2024 | -38.9% | +1.0% |
| 2025 | +174.3% | +35.9% |
| 2026 | -12.5% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENTA and XBI good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ENTA and XBI?
The ENTA/XBI correlation stands at 0.57 on a 3-year window (1 year: 0.61, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is XBI a good diversifier for ENTA?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 mean?
A reading of 0.57 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/enta-vs-xbi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/enta-vs-xbi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ENTA correlations · XBI correlations
