LXEO vs XBI: Correlation
Measured on weekly returns over the past three years, Lexeo Therapeutics, Inc. (LXEO) and SPDR S&P Biotech ETF (XBI) carry a correlation of 0.46, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LXEO and XBI?
Over the past 3 years, LXEO and XBI moved with a correlation of 0.46, which is moderate. The relationship has been stable: the 1-year correlation (0.52) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 1268.7 %².
In LXEO's tracked universe of 13 assets, XBI sits right near the top at #3. Their recent paths diverged sharply: over the last 12 months XBI outperformed by 84.3 percentage points (+2.9% for LXEO against +87.2% for XBI). Risk is not evenly split, since LXEO carries 3.7 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.
LXEO vs XBI: side by side
| LXEO (Lexeo Therapeutics, Inc.) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +2.9% | +87.2% |
| 5-year return | n/a | +28.6% |
| Volatility (ann.) | 103.0% | 27.7% |
| Beta vs S&P 500 | 2.10 | 1.09 |
| Max drawdown (3Y) | -90.5% | -33.0% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | LXEO | XBI |
|---|---|---|
| 2022 | – | -25.9% |
| 2023 | – | +7.6% |
| 2024 | -51.0% | +1.0% |
| 2025 | +50.9% | +35.9% |
| 2026 | -49.7% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LXEO and XBI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between LXEO and XBI?
The LXEO/XBI correlation stands at 0.46 on a 3-year window (1 year: 0.52, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is XBI a good diversifier for LXEO?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 mean?
A reading of 0.46 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
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Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/lxeo-vs-xbi/)
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Related comparisons
Hubs: LXEO correlations · XBI correlations
