NRIX vs XBI: Correlation
Nurix Therapeutics, Inc. (NRIX) and SPDR S&P Biotech ETF (XBI) show a strong relationship: their 3-year correlation of weekly returns is 0.67.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NRIX and XBI?
Across a 3-year window, the weekly returns of NRIX and XBI correlate at 0.67, strong. Recent behaviour matches the longer record: 0.64 over 1 year against 0.67 over 3. Stretching to 5 years gives 0.64, with an annualized covariance of 1431.3 %².
In NRIX's tracked universe of 13 assets, XBI sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months NRIX outperformed by 94.2 percentage points (+181.4% for NRIX against +87.2% for XBI). Note the risk asymmetry: NRIX runs 2.8 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.
NRIX vs XBI: side by side
| NRIX (Nurix Therapeutics, Inc.) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +181.4% | +87.2% |
| 5-year return | -19.6% | +28.6% |
| Volatility (ann.) | 77.6% | 27.7% |
| Beta vs S&P 500 | 1.82 | 1.09 |
| Max drawdown (3Y) | -70.7% | -33.0% |
| Market cap | $2.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | NRIX | XBI |
|---|---|---|
| 2022 | -62.1% | -25.9% |
| 2023 | -6.0% | +7.6% |
| 2024 | +82.6% | +1.0% |
| 2025 | +0.7% | +35.9% |
| 2026 | +41.7% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NRIX and XBI good diversifiers for each other?
To a limited degree. At 0.67 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between NRIX and XBI?
As of 2026-08-27, the correlation of weekly returns between NRIX and XBI is 0.67 over 3 years, 0.64 over 1 year and 0.64 over 5 years.
Is XBI a good diversifier for NRIX?
To a limited degree. At 0.67 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.67 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nrix-vs-xbi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nrix-vs-xbi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NRIX correlations · XBI correlations
