OSUR vs XBI: Correlation
How closely do OraSure Technologies, Inc. (OSUR) and SPDR S&P Biotech ETF (XBI) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OSUR and XBI?
On 3 years of weekly data the OSUR/XBI correlation comes out at 0.44, moderate. The link has loosened recently: the 1-year correlation (0.30) runs below the 3-year figure (0.44). The 5-year figure is 0.38, and annualized covariance runs at 500.3 %².
Within OSUR's tracked universe of 11 assets, XBI comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with XBI ahead by 76.7 points (+10.5% versus +87.2%).
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.
OSUR vs XBI: side by side
| OSUR (OraSure Technologies, Inc.) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +10.5% | +87.2% |
| 5-year return | -66.1% | +28.6% |
| Volatility (ann.) | 40.8% | 27.7% |
| Beta vs S&P 500 | 0.83 | 1.09 |
| Max drawdown (3Y) | -74.7% | -33.0% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | OSUR | XBI |
|---|---|---|
| 2022 | -44.5% | -25.9% |
| 2023 | +70.1% | +7.6% |
| 2024 | -56.0% | +1.0% |
| 2025 | -33.0% | +35.9% |
| 2026 | +52.5% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OSUR and XBI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between OSUR and XBI?
The OSUR/XBI correlation stands at 0.44 on a 3-year window (1 year: 0.30, 5 years: 0.38), computed from weekly returns as of 2026-08-27.
Is XBI a good diversifier for OSUR?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 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/osur-vs-xbi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/osur-vs-xbi/)
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Related comparisons
Hubs: OSUR correlations · XBI correlations
