RCUS vs XBI: Correlation
How closely do Arcus Biosciences, Inc. (RCUS) and SPDR S&P Biotech ETF (XBI) trade together? Their weekly returns over three years give a correlation of 0.64, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RCUS and XBI?
On 3 years of weekly data the RCUS/XBI correlation comes out at 0.64, strong. Little has changed lately, as the 1-year reading of 0.63 lands near the 3-year figure. The 5-year figure is 0.55, and annualized covariance runs at 1040.9 %².
In RCUS's tracked universe of 12 assets, XBI sits right near the top at #1. Correlation aside, the last 12 months split them widely, with RCUS ahead by 102.5 points (+189.7% versus +87.2%). Note the risk asymmetry: RCUS 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.
RCUS vs XBI: side by side
| RCUS (Arcus Biosciences, Inc.) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +189.7% | +87.2% |
| 5-year return | +3.1% | +28.6% |
| Volatility (ann.) | 59.0% | 27.7% |
| Beta vs S&P 500 | 1.71 | 1.09 |
| Max drawdown (3Y) | -69.5% | -33.0% |
| Market cap | $3.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | RCUS | XBI |
|---|---|---|
| 2022 | -48.9% | -25.9% |
| 2023 | -7.6% | +7.6% |
| 2024 | -22.0% | +1.0% |
| 2025 | +60.0% | +35.9% |
| 2026 | +28.4% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RCUS and XBI good diversifiers for each other?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between RCUS and XBI?
Using weekly returns as of 2026-08-27: 0.64 over 3 years, with 0.63 over the last year and 0.55 over 5 years.
Is XBI a good diversifier for RCUS?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.64 mean?
A reading of 0.64 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: RCUS correlations · XBI correlations
