ONMD vs XBIO: Correlation
Measured on weekly returns over the past three years, OneMedNet Corp (ONMD) and Xenetic Biosciences, Inc. (XBIO) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ONMD and XBIO?
On 3 years of weekly data the ONMD/XBIO correlation comes out at 0.38, moderate. The past 12 months show a tighter link (0.75) than the 3-year average (0.38). The 5-year figure is 0.32, and annualized covariance runs at 10101.8 %².
XBIO is one of the assets that tracks ONMD most closely: it ranks #3 out of the 10 assets we track against ONMD. Correlation aside, the last 12 months split them widely, with XBIO ahead by 68.1 points (-28.3% versus +39.8%). Note the risk asymmetry: ONMD runs 3.3 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.
ONMD vs XBIO: side by side
| ONMD (OneMedNet Corp) | XBIO (Xenetic Biosciences, Inc.) | |
|---|---|---|
| 1-year return | -28.3% | +39.8% |
| 5-year return | -94.1% | -86.8% |
| Volatility (ann.) | 295.9% | 90.1% |
| Beta vs S&P 500 | -0.51 | 0.46 |
| Max drawdown (3Y) | -97.2% | -80.5% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ONMD | XBIO |
|---|---|---|
| 2022 | +3.4% | -77.9% |
| 2023 | -92.2% | +21.1% |
| 2024 | +67.9% | +15.7% |
| 2025 | -19.1% | -45.6% |
| 2026 | -46.8% | +82.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ONMD and XBIO good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ONMD and XBIO?
The ONMD/XBIO correlation stands at 0.38 on a 3-year window (1 year: 0.75, 5 years: 0.32), computed from weekly returns as of 2026-08-27.
Is XBIO a good diversifier for ONMD?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 mean?
A reading of 0.38 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ONMD correlations · XBIO correlations
