LXRX vs XBI: Correlation
How closely do Lexicon Pharmaceuticals, Inc. (LXRX) and SPDR S&P Biotech ETF (XBI) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LXRX and XBI?
Over the past 3 years, LXRX and XBI moved with a correlation of 0.41, which is moderate. Recent behaviour matches the longer record: 0.38 over 1 year against 0.41 over 3. Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 1188.9 %².
In LXRX's tracked universe of 11 assets, XBI sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months LXRX outperformed by 18.1 percentage points (+105.3% for LXRX against +87.2% for XBI). Note the risk asymmetry: LXRX runs 3.8 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.
LXRX vs XBI: side by side
| LXRX (Lexicon Pharmaceuticals, Inc.) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +105.3% | +87.2% |
| 5-year return | -48.7% | +28.6% |
| Volatility (ann.) | 105.2% | 27.7% |
| Beta vs S&P 500 | 1.98 | 1.09 |
| Max drawdown (3Y) | -91.9% | -33.0% |
| Market cap | $1.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | LXRX | XBI |
|---|---|---|
| 2022 | -51.5% | -25.9% |
| 2023 | -19.9% | +7.6% |
| 2024 | -51.6% | +1.0% |
| 2025 | +55.4% | +35.9% |
| 2026 | +101.7% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LXRX and XBI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between LXRX and XBI?
The LXRX/XBI correlation stands at 0.41 on a 3-year window (1 year: 0.38, 5 years: 0.49), computed from weekly returns as of 2026-08-27.
Is XBI a good diversifier for LXRX?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.41 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: LXRX correlations · XBI correlations
