FHTX vs XBI: Correlation
Foghorn Therapeutics Inc. (FHTX) and SPDR S&P Biotech ETF (XBI) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FHTX and XBI?
Across a 3-year window, the weekly returns of FHTX and XBI correlate at 0.47, moderate. Recent behaviour matches the longer record: 0.51 over 1 year against 0.47 over 3. Stretching to 5 years gives 0.49, with an annualized covariance of 1357.6 %².
Among the 12 assets we track against FHTX, XBI ranks #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with XBI ahead by 72.2 points (+15.0% versus +87.2%). One caveat on sizing: FHTX is 3.7 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.
FHTX vs XBI: side by side
| FHTX (Foghorn Therapeutics Inc.) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +15.0% | +87.2% |
| 5-year return | -49.1% | +28.6% |
| Volatility (ann.) | 103.7% | 27.7% |
| Beta vs S&P 500 | 2.17 | 1.09 |
| Max drawdown (3Y) | -68.5% | -33.0% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | FHTX | XBI |
|---|---|---|
| 2022 | -72.1% | -25.9% |
| 2023 | +1.1% | +7.6% |
| 2024 | -26.8% | +1.0% |
| 2025 | +14.4% | +35.9% |
| 2026 | +15.2% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FHTX and XBI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FHTX and XBI?
As of 2026-08-27, the correlation of weekly returns between FHTX and XBI is 0.47 over 3 years, 0.51 over 1 year and 0.49 over 5 years.
Is XBI a good diversifier for FHTX?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 mean?
A reading of 0.47 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
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Related comparisons
Hubs: FHTX correlations · XBI correlations
