REGN vs XBI: Correlation
How closely do Regeneron Pharmaceuticals (REGN) and SPDR S&P Biotech ETF (XBI) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are REGN and XBI?
On 3 years of weekly data the REGN/XBI correlation comes out at 0.43, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.20 versus 0.43 over 3 years. The 5-year figure is 0.38, and annualized covariance runs at 375.4 %².
Within REGN's tracked universe of 27 assets, XBI comes in at #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months XBI outperformed by 48.9 percentage points (+38.3% for REGN against +87.2% for XBI). The rolling one-year correlation moved between 0.13 and 0.62 over the past three years, a moderate range.
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.
REGN vs XBI: side by side
| REGN (Regeneron Pharmaceuticals) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +38.3% | +87.2% |
| 5-year return | +20.4% | +28.6% |
| Volatility (ann.) | 31.8% | 27.7% |
| Beta vs S&P 500 | 0.61 | 1.09 |
| Max drawdown (3Y) | -59.7% | -33.0% |
| Market cap | $83.2B | – |
| P/E (trailing) | 20.2 | – |
| Dividend yield | 0.45% | – |
| Sector / category | Health Care | ETF · Thematic |
Year-by-year returns
| Year | REGN | XBI |
|---|---|---|
| 2022 | +14.2% | -25.9% |
| 2023 | +21.7% | +7.6% |
| 2024 | -18.9% | +1.0% |
| 2025 | +9.0% | +35.9% |
| 2026 | +5.0% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are REGN and XBI good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between REGN and XBI?
As of 2026-08-27, the correlation of weekly returns between REGN and XBI is 0.43 over 3 years, 0.20 over 1 year and 0.38 over 5 years.
Is XBI a good diversifier for REGN?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 mean?
On the −1 to +1 scale, 0.43 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/regn-vs-xbi.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: REGN correlations · XBI correlations
