ORIC vs XBI: Correlation
Oric Pharmaceuticals, Inc. (ORIC) and SPDR S&P Biotech ETF (XBI) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ORIC and XBI?
On 3 years of weekly data the ORIC/XBI correlation comes out at 0.45, moderate. The link has loosened recently: the 1-year correlation (0.28) runs below the 3-year figure (0.45). The 5-year figure is 0.39, and annualized covariance runs at 1038.2 %².
XBI is one of the assets that tracks ORIC most closely: it ranks #1 out of the 11 assets we track against ORIC. Correlation aside, the last 12 months split them widely, with XBI ahead by 53.3 points (+33.9% versus +87.2%). Note the risk asymmetry: ORIC 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.
ORIC vs XBI: side by side
| ORIC (Oric Pharmaceuticals, Inc.) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +33.9% | +87.2% |
| 5-year return | -38.1% | +28.6% |
| Volatility (ann.) | 82.6% | 27.7% |
| Beta vs S&P 500 | 1.30 | 1.09 |
| Max drawdown (3Y) | -73.5% | -33.0% |
| Market cap | $1.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | ORIC | XBI |
|---|---|---|
| 2022 | -59.9% | -25.9% |
| 2023 | +56.2% | +7.6% |
| 2024 | -12.3% | +1.0% |
| 2025 | +1.4% | +35.9% |
| 2026 | +68.0% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ORIC and XBI good diversifiers for each other?
Reasonably. At 0.45, ORIC and XBI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ORIC and XBI?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.28 over the last year and 0.39 over 5 years.
Is XBI a good diversifier for ORIC?
Reasonably. At 0.45, ORIC and XBI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 mean?
A reading of 0.45 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: ORIC correlations · XBI correlations
