RCKT vs XBI: Correlation
How closely do Rocket Pharmaceuticals, Inc. (RCKT) and SPDR S&P Biotech ETF (XBI) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RCKT and XBI?
Over the past 3 years, RCKT and XBI moved with a correlation of 0.54, which is moderate. The relationship has been stable: the 1-year correlation (0.46) sits close to the 3-year figure. Over 5 years the correlation is 0.61, and the annualized covariance of weekly returns is 1179.3 %².
XBI is one of the assets that tracks RCKT most closely: it ranks #1 out of the 15 assets we track against RCKT. Their recent paths diverged sharply: over the last 12 months XBI outperformed by 78.2 percentage points (+9.0% for RCKT against +87.2% for XBI). Risk is not evenly split, since RCKT carries 2.8 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.
RCKT vs XBI: side by side
| RCKT (Rocket Pharmaceuticals, Inc.) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +9.0% | +87.2% |
| 5-year return | -89.2% | +28.6% |
| Volatility (ann.) | 78.7% | 27.7% |
| Beta vs S&P 500 | 1.78 | 1.09 |
| Max drawdown (3Y) | -92.7% | -33.0% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | RCKT | XBI |
|---|---|---|
| 2022 | -10.4% | -25.9% |
| 2023 | +53.1% | +7.6% |
| 2024 | -58.1% | +1.0% |
| 2025 | -72.1% | +35.9% |
| 2026 | +3.1% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RCKT and XBI good diversifiers for each other?
Only partially. A correlation of 0.54 means RCKT and XBI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between RCKT and XBI?
As of 2026-08-27, the correlation of weekly returns between RCKT and XBI is 0.54 over 3 years, 0.46 over 1 year and 0.61 over 5 years.
Is XBI a good diversifier for RCKT?
Only partially. A correlation of 0.54 means RCKT and XBI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.54 mean?
On the −1 to +1 scale, 0.54 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.
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Related comparisons
Hubs: RCKT correlations · XBI correlations
