KROS vs XBI: Correlation
Measured on weekly returns over the past three years, Keros Therapeutics, Inc. (KROS) and SPDR S&P Biotech ETF (XBI) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KROS and XBI?
Across a 3-year window, the weekly returns of KROS and XBI correlate at 0.44, moderate. The relationship has been stable: the 1-year correlation (0.47) sits close to the 3-year figure. Stretching to 5 years gives 0.46, with an annualized covariance of 843.8 %².
XBI is one of the assets that tracks KROS most closely: it ranks #2 out of the 17 assets we track against KROS. Correlation aside, the last 12 months split them widely, with XBI ahead by 114.8 points (-27.6% versus +87.2%). Risk is not evenly split, since KROS carries 2.5 times the volatility of the other side.
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.
KROS vs XBI: side by side
| KROS (Keros Therapeutics, Inc.) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | -27.6% | +87.2% |
| 5-year return | -67.0% | +28.6% |
| Volatility (ann.) | 69.9% | 27.7% |
| Beta vs S&P 500 | 0.98 | 1.09 |
| Max drawdown (3Y) | -86.5% | -33.0% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | KROS | XBI |
|---|---|---|
| 2022 | -17.9% | -25.9% |
| 2023 | -17.2% | +7.6% |
| 2024 | -60.2% | +1.0% |
| 2025 | +28.6% | +35.9% |
| 2026 | -44.8% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KROS and XBI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between KROS and XBI?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.47 over the last year and 0.46 over 5 years.
Is XBI a good diversifier for KROS?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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/kros-vs-xbi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/kros-vs-xbi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: KROS correlations · XBI correlations
