JETS vs XBI: Correlation
How closely do US Global Jets ETF (JETS) and SPDR S&P Biotech ETF (XBI) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JETS and XBI?
Over the past 3 years, JETS and XBI moved with a correlation of 0.49, which is moderate. The relationship has been stable: the 1-year correlation (0.48) sits close to the 3-year figure. Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 395.1 %².
By 3-year correlation, XBI places #33 of the 54 assets tracked against JETS. Their recent paths diverged sharply: over the last 12 months XBI outperformed by 74.0 percentage points (+13.2% for JETS against +87.2% for XBI). Across three years, the rolling one-year figure varied moderately, from 0.22 to 0.63.
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.
JETS vs XBI: side by side
| JETS (US Global Jets ETF) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +13.2% | +87.2% |
| 5-year return | +30.9% | +28.6% |
| Volatility (ann.) | 29.2% | 27.7% |
| Beta vs S&P 500 | 1.16 | 1.09 |
| Max drawdown (3Y) | -35.2% | -33.0% |
| Sector / category | ETF · Thematic | ETF · Thematic |
Year-by-year returns
| Year | JETS | XBI |
|---|---|---|
| 2022 | -19.0% | -25.9% |
| 2023 | +11.4% | +7.6% |
| 2024 | +33.2% | +1.0% |
| 2025 | +11.6% | +35.9% |
| 2026 | +4.6% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JETS and XBI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between JETS and XBI?
The JETS/XBI correlation stands at 0.49 on a 3-year window (1 year: 0.48, 5 years: 0.49), computed from weekly returns as of 2026-08-27.
Is XBI a good diversifier for JETS?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.49 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
$ curl https://www.pairbook.io/api/v1/pairs/jets-vs-xbi.json
Embed this badge (it refreshes with the data), with attribution:
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The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: JETS correlations · XBI correlations
