LYEL vs XBI: Correlation
How closely do Lyell Immunopharma, Inc. (LYEL) and SPDR S&P Biotech ETF (XBI) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LYEL and XBI?
On 3 years of weekly data the LYEL/XBI correlation comes out at 0.49, moderate. Little has changed lately, as the 1-year reading of 0.39 lands near the 3-year figure. The 5-year figure is 0.47, and annualized covariance runs at 1362.3 %².
Few assets follow LYEL as closely as XBI, which ranks #1 of 13 tracked partners. The last year tells two different stories: XBI led by 57.7 percentage points, +29.5% for LYEL against +87.2% for XBI. One caveat on sizing: LYEL is 3.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
LYEL vs XBI: side by side
| LYEL (Lyell Immunopharma, Inc.) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +29.5% | +87.2% |
| 5-year return | -95.4% | +28.6% |
| Volatility (ann.) | 99.9% | 27.7% |
| Beta vs S&P 500 | 2.09 | 1.09 |
| Max drawdown (3Y) | -87.3% | -33.0% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | LYEL | XBI |
|---|---|---|
| 2022 | -55.2% | -25.9% |
| 2023 | -44.1% | +7.6% |
| 2024 | -67.0% | +1.0% |
| 2025 | +140.5% | +35.9% |
| 2026 | -52.5% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LYEL and XBI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between LYEL and XBI?
As of 2026-08-27, the correlation of weekly returns between LYEL and XBI is 0.49 over 3 years, 0.39 over 1 year and 0.47 over 5 years.
Is XBI a good diversifier for LYEL?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.49 mean?
A reading of 0.49 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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Related comparisons
Hubs: LYEL correlations · XBI correlations
