IDYA vs XBI: Correlation
How closely do IDEAYA Biosciences, Inc. (IDYA) and SPDR S&P Biotech ETF (XBI) trade together? Their weekly returns over three years give a correlation of 0.73, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IDYA and XBI?
Over the past 3 years, IDYA and XBI moved with a correlation of 0.73, which is strong. The relationship has been stable: the 1-year correlation (0.77) sits close to the 3-year figure. Over 5 years the correlation is 0.56, and the annualized covariance of weekly returns is 912.3 %².
In IDYA's tracked universe of 23 assets, XBI sits right near the top at #2. The last year tells two different stories: XBI led by 20.1 percentage points, +67.1% for IDYA against +87.2% for XBI. One caveat on sizing: IDYA is 1.6 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.
IDYA vs XBI: side by side
| IDYA (IDEAYA Biosciences, Inc.) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +67.1% | +87.2% |
| 5-year return | +82.5% | +28.6% |
| Volatility (ann.) | 45.3% | 27.7% |
| Beta vs S&P 500 | 1.37 | 1.09 |
| Max drawdown (3Y) | -69.2% | -33.0% |
| Market cap | $4.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | IDYA | XBI |
|---|---|---|
| 2022 | -23.1% | -25.9% |
| 2023 | +95.8% | +7.6% |
| 2024 | -27.8% | +1.0% |
| 2025 | +34.5% | +35.9% |
| 2026 | +20.8% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IDYA and XBI good diversifiers for each other?
Only partially. A correlation of 0.73 means IDYA 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 IDYA and XBI?
Using weekly returns as of 2026-08-27: 0.73 over 3 years, with 0.77 over the last year and 0.56 over 5 years.
Is XBI a good diversifier for IDYA?
Only partially. A correlation of 0.73 means IDYA 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 0.73 mean?
On the −1 to +1 scale, 0.73 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/idya-vs-xbi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/idya-vs-xbi/)
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Related comparisons
Hubs: IDYA correlations · XBI correlations
