NTLA vs XBI: Correlation
Measured on weekly returns over the past three years, Intellia Therapeutics, Inc. (NTLA) and SPDR S&P Biotech ETF (XBI) carry a correlation of 0.58, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NTLA and XBI?
On 3 years of weekly data the NTLA/XBI correlation comes out at 0.58, moderate. The past 12 months show a weaker link (0.38) than the 3-year average (0.58). The 5-year figure is 0.62, and annualized covariance runs at 1327.8 %².
By 3-year correlation, XBI places #5 of the 14 assets tracked against NTLA. The last year tells two different stories: XBI led by 72.4 percentage points, +14.8% for NTLA against +87.2% for XBI. Note the risk asymmetry: NTLA runs 3.0 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.
NTLA vs XBI: side by side
| NTLA (Intellia Therapeutics, Inc.) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +14.8% | +87.2% |
| 5-year return | -91.5% | +28.6% |
| Volatility (ann.) | 82.2% | 27.7% |
| Beta vs S&P 500 | 2.32 | 1.09 |
| Max drawdown (3Y) | -83.6% | -33.0% |
| Market cap | $1.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | NTLA | XBI |
|---|---|---|
| 2022 | -70.5% | -25.9% |
| 2023 | -12.6% | +7.6% |
| 2024 | -61.8% | +1.0% |
| 2025 | -22.9% | +35.9% |
| 2026 | +45.8% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NTLA and XBI good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between NTLA and XBI?
The NTLA/XBI correlation stands at 0.58 on a 3-year window (1 year: 0.38, 5 years: 0.62), computed from weekly returns as of 2026-08-27.
Is XBI a good diversifier for NTLA?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 mean?
On the −1 to +1 scale, 0.58 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ntla-vs-xbi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ntla-vs-xbi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NTLA correlations · XBI correlations
