PLRX vs XBI: Correlation
Pliant Therapeutics, Inc. (PLRX) 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 PLRX and XBI?
On 3 years of weekly data the PLRX/XBI correlation comes out at 0.45, moderate. Recent behaviour matches the longer record: 0.43 over 1 year against 0.45 over 3. The 5-year figure is 0.32, and annualized covariance runs at 928.1 %².
In PLRX's tracked universe of 17 assets, XBI sits right near the top at #2. Their recent paths diverged sharply: over the last 12 months XBI outperformed by 119.2 percentage points (-32.0% for PLRX against +87.2% for XBI). One caveat on sizing: PLRX is 2.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
PLRX vs XBI: side by side
| PLRX (Pliant Therapeutics, Inc.) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | -32.0% | +87.2% |
| 5-year return | -93.6% | +28.6% |
| Volatility (ann.) | 74.8% | 27.7% |
| Beta vs S&P 500 | 1.32 | 1.09 |
| Max drawdown (3Y) | -94.7% | -33.0% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | PLRX | XBI |
|---|---|---|
| 2022 | +43.2% | -25.9% |
| 2023 | -6.3% | +7.6% |
| 2024 | -27.3% | +1.0% |
| 2025 | -90.7% | +35.9% |
| 2026 | -5.7% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PLRX and XBI good diversifiers for each other?
Reasonably. At 0.45, PLRX and XBI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between PLRX and XBI?
As of 2026-08-27, the correlation of weekly returns between PLRX and XBI is 0.45 over 3 years, 0.43 over 1 year and 0.32 over 5 years.
Is XBI a good diversifier for PLRX?
Reasonably. At 0.45, PLRX and XBI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 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/plrx-vs-xbi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/plrx-vs-xbi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PLRX correlations · XBI correlations
