PYXS vs XBI: Correlation
Pyxis Oncology, Inc. (PYXS) and SPDR S&P Biotech ETF (XBI) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PYXS and XBI?
On 3 years of weekly data the PYXS/XBI correlation comes out at 0.38, moderate. The relationship has been stable: the 1-year correlation (0.39) sits close to the 3-year figure. The 5-year figure is 0.34, and annualized covariance runs at 1266.4 %².
Within PYXS's tracked universe of 11 assets, XBI comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PYXS ahead by 56.9 points (+144.1% versus +87.2%). Risk is not evenly split, since PYXS carries 4.3 times the volatility of the other side.
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.
PYXS vs XBI: side by side
| PYXS (Pyxis Oncology, Inc.) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +144.1% | +87.2% |
| 5-year return | -74.8% | +28.6% |
| Volatility (ann.) | 120.2% | 27.7% |
| Beta vs S&P 500 | 1.51 | 1.09 |
| Max drawdown (3Y) | -86.7% | -33.0% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | PYXS | XBI |
|---|---|---|
| 2022 | -87.8% | -25.9% |
| 2023 | +34.3% | +7.6% |
| 2024 | -13.3% | +1.0% |
| 2025 | -26.3% | +35.9% |
| 2026 | +188.7% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PYXS and XBI good diversifiers for each other?
Reasonably. At 0.38, PYXS and XBI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between PYXS and XBI?
As of 2026-08-27, the correlation of weekly returns between PYXS and XBI is 0.38 over 3 years, 0.39 over 1 year and 0.34 over 5 years.
Is XBI a good diversifier for PYXS?
Reasonably. At 0.38, PYXS and XBI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.38 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
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Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: PYXS correlations · XBI correlations
