QTRX vs XBI: Correlation
How closely do Quanterix Corporation (QTRX) and SPDR S&P Biotech ETF (XBI) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QTRX and XBI?
Across a 3-year window, the weekly returns of QTRX and XBI correlate at 0.56, moderate. Recent behaviour matches the longer record: 0.48 over 1 year against 0.56 over 3. Stretching to 5 years gives 0.57, with an annualized covariance of 1122.8 %².
In QTRX's tracked universe of 12 assets, XBI sits right near the top at #2. Correlation aside, the last 12 months split them widely, with XBI ahead by 129.9 points (-42.7% versus +87.2%). Risk is not evenly split, since QTRX carries 2.6 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.
QTRX vs XBI: side by side
| QTRX (Quanterix Corporation) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | -42.7% | +87.2% |
| 5-year return | -94.7% | +28.6% |
| Volatility (ann.) | 73.1% | 27.7% |
| Beta vs S&P 500 | 1.18 | 1.09 |
| Max drawdown (3Y) | -91.6% | -33.0% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | QTRX | XBI |
|---|---|---|
| 2022 | -67.3% | -25.9% |
| 2023 | +97.4% | +7.6% |
| 2024 | -61.1% | +1.0% |
| 2025 | -40.2% | +35.9% |
| 2026 | -58.5% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QTRX and XBI good diversifiers for each other?
To a limited degree. At 0.56 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 QTRX and XBI?
Using weekly returns as of 2026-08-27: 0.56 over 3 years, with 0.48 over the last year and 0.57 over 5 years.
Is XBI a good diversifier for QTRX?
To a limited degree. At 0.56 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 0.56 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/qtrx-vs-xbi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/qtrx-vs-xbi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: QTRX correlations · XBI correlations
