MVST vs XBI: Correlation
Measured on weekly returns over the past three years, Microvast Holdings, Inc. (MVST) and SPDR S&P Biotech ETF (XBI) carry a correlation of -0.14, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MVST and XBI?
Over the past 3 years, MVST and XBI moved with a correlation of -0.14, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.32) than the 3-year average (-0.14). Over 5 years the correlation is -0.01, and the annualized covariance of weekly returns is -820.5 %².
By 3-year correlation, XBI places #14 of the 41 assets tracked against MVST. Correlation aside, the last 12 months split them widely, with XBI ahead by 158.4 points (-71.2% versus +87.2%). One caveat on sizing: MVST is 7.6 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.
MVST vs XBI: side by side
| MVST (Microvast Holdings, Inc.) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | -71.2% | +87.2% |
| 5-year return | -91.6% | +28.6% |
| Volatility (ann.) | 209.2% | 27.7% |
| Beta vs S&P 500 | 0.26 | 1.09 |
| Max drawdown (3Y) | -92.8% | -33.0% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | MVST | XBI |
|---|---|---|
| 2022 | -73.0% | -25.9% |
| 2023 | -8.5% | +7.6% |
| 2024 | +47.9% | +1.0% |
| 2025 | +35.3% | +35.9% |
| 2026 | -72.5% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MVST and XBI good diversifiers for each other?
By historical standards, yes. A correlation of -0.14 means the two rarely move for the same reasons.
FAQ
What is the correlation between MVST and XBI?
The MVST/XBI correlation stands at -0.14 on a 3-year window (1 year: 0.32, 5 years: -0.01), computed from weekly returns as of 2026-08-27.
Is XBI a good diversifier for MVST?
By historical standards, yes. A correlation of -0.14 means the two rarely move for the same reasons.
What does a correlation of -0.14 mean?
A reading of -0.14 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:
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Related comparisons
Hubs: MVST correlations · XBI correlations
