GLDG vs XBIO: Correlation
Measured on weekly returns over the past three years, GoldMining Inc. (GLDG) and Xenetic Biosciences, Inc. (XBIO) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GLDG and XBIO?
On 3 years of weekly data the GLDG/XBIO correlation comes out at 0.50, moderate. The link has tightened recently: the 1-year correlation (0.64) runs above the 3-year figure (0.50). The 5-year figure is 0.36, and annualized covariance runs at 2366.4 %².
By 3-year correlation, XBIO places #7 of the 14 assets tracked against GLDG. The last year tells two different stories: XBIO led by 17.2 percentage points, +22.6% for GLDG against +39.8% for XBIO. One caveat on sizing: XBIO is 1.7 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.
GLDG vs XBIO: side by side
| GLDG (GoldMining Inc.) | XBIO (Xenetic Biosciences, Inc.) | |
|---|---|---|
| 1-year return | +22.6% | +39.8% |
| 5-year return | -8.1% | -86.8% |
| Volatility (ann.) | 52.0% | 90.1% |
| Beta vs S&P 500 | 0.47 | 0.46 |
| Max drawdown (3Y) | -61.7% | -80.5% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GLDG | XBIO |
|---|---|---|
| 2022 | -5.8% | -77.9% |
| 2023 | -14.2% | +21.1% |
| 2024 | -16.5% | +15.7% |
| 2025 | +54.3% | -45.6% |
| 2026 | -8.8% | +82.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GLDG and XBIO good diversifiers for each other?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GLDG and XBIO?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.64 over the last year and 0.36 over 5 years.
Is XBIO a good diversifier for GLDG?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.50 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
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Related comparisons
Hubs: GLDG correlations · XBIO correlations
