KYTX vs XBI: Correlation
How closely do Kyverna Therapeutics, Inc. (KYTX) and SPDR S&P Biotech ETF (XBI) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KYTX and XBI?
On 3 years of weekly data the KYTX/XBI correlation comes out at 0.48, moderate. The link has loosened recently: the 1-year correlation (0.37) runs below the 3-year figure (0.48). The 5-year figure is n/a, and annualized covariance runs at 1159.4 %².
XBI is one of the assets that tracks KYTX most closely: it ranks #3 out of the 17 assets we track against KYTX. Their recent paths diverged sharply: over the last 12 months KYTX outperformed by 46.9 percentage points (+134.1% for KYTX against +87.2% for XBI). Note the risk asymmetry: KYTX runs 3.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
KYTX vs XBI: side by side
| KYTX (Kyverna Therapeutics, Inc.) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +134.1% | +87.2% |
| 5-year return | n/a | +28.6% |
| Volatility (ann.) | 90.2% | 27.7% |
| Beta vs S&P 500 | 1.74 | 1.09 |
| Max drawdown (3Y) | -93.9% | -33.0% |
| Market cap | $0.5B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | KYTX | XBI |
|---|---|---|
| 2022 | – | -25.9% |
| 2023 | – | +7.6% |
| 2024 | – | +1.0% |
| 2025 | +151.3% | +35.9% |
| 2026 | -8.1% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KYTX and XBI good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between KYTX and XBI?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.37 over the last year and n/a over 5 years.
Is XBI a good diversifier for KYTX?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 mean?
A reading of 0.48 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
$ curl https://www.pairbook.io/api/v1/pairs/kytx-vs-xbi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/kytx-vs-xbi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: KYTX correlations · XBI correlations
