PCVX vs XBI: Correlation
Vaxcyte, Inc. (PCVX) and SPDR S&P Biotech ETF (XBI) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PCVX and XBI?
Over the past 3 years, PCVX and XBI moved with a correlation of 0.58, which is moderate. The relationship has been stable: the 1-year correlation (0.67) sits close to the 3-year figure. Over 5 years the correlation is 0.45, and the annualized covariance of weekly returns is 930.8 %².
XBI is one of the assets that tracks PCVX most closely: it ranks #3 out of the 17 assets we track against PCVX. On 12-month performance PCVX holds a 13.0-point edge, +100.2% against +87.2%. Note the risk asymmetry: PCVX runs 2.1 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.
PCVX vs XBI: side by side
| PCVX (Vaxcyte, Inc.) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +100.2% | +87.2% |
| 5-year return | +130.8% | +28.6% |
| Volatility (ann.) | 57.9% | 27.7% |
| Beta vs S&P 500 | 1.40 | 1.09 |
| Max drawdown (3Y) | -76.2% | -33.0% |
| Market cap | $9.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | PCVX | XBI |
|---|---|---|
| 2022 | +101.6% | -25.9% |
| 2023 | +31.0% | +7.6% |
| 2024 | +30.4% | +1.0% |
| 2025 | -43.6% | +35.9% |
| 2026 | +32.5% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PCVX and XBI good diversifiers for each other?
To a limited degree. At 0.58 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 PCVX and XBI?
As of 2026-08-27, the correlation of weekly returns between PCVX and XBI is 0.58 over 3 years, 0.67 over 1 year and 0.45 over 5 years.
Is XBI a good diversifier for PCVX?
To a limited degree. At 0.58 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 0.58 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/pcvx-vs-xbi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pcvx-vs-xbi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PCVX correlations · XBI correlations
