LODE vs XBIT: Correlation
Comstock Inc. (LODE) and XBiotech Inc. (XBIT) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LODE and XBIT?
Across a 3-year window, the weekly returns of LODE and XBIT correlate at -0.21, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.03) than the 3-year average (-0.21). Stretching to 5 years gives 0.01, with an annualized covariance of -1339.8 %².
Among the 13 assets we track against LODE, XBIT sits near the bottom by co-movement, at rank #12. Correlation aside, the last 12 months split them widely, with LODE ahead by 79.8 points (+45.9% versus -33.9%). Note the risk asymmetry: LODE runs 1.7 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.
LODE vs XBIT: side by side
| LODE (Comstock Inc.) | XBIT (XBiotech Inc.) | |
|---|---|---|
| 1-year return | +45.9% | -33.9% |
| 5-year return | -88.3% | -85.8% |
| Volatility (ann.) | 105.0% | 60.9% |
| Beta vs S&P 500 | 1.39 | 1.09 |
| Max drawdown (3Y) | -78.5% | -78.6% |
| Market cap | $0.3B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LODE | XBIT |
|---|---|---|
| 2022 | -78.3% | -68.5% |
| 2023 | +96.4% | +14.0% |
| 2024 | +45.5% | -1.2% |
| 2025 | -53.0% | -39.5% |
| 2026 | -5.3% | -3.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LODE and XBIT good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between LODE and XBIT?
The LODE/XBIT correlation stands at -0.21 on a 3-year window (1 year: 0.03, 5 years: 0.01), computed from weekly returns as of 2026-08-27.
Is XBIT a good diversifier for LODE?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 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.
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Related comparisons
Hubs: LODE correlations · XBIT correlations
