SES vs XBIT: Correlation
How closely do SES AI Corporation (SES) and XBiotech Inc. (XBIT) trade together? Their weekly returns over three years give a correlation of -0.34, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SES and XBIT?
Over the past 3 years, SES and XBIT moved with a correlation of -0.34, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.06 versus -0.34 over 3 years. Over 5 years the correlation is -0.25, and the annualized covariance of weekly returns is -6097.8 %².
Among the 35 assets we track against SES, XBIT sits near the bottom by co-movement, at rank #35. The last year tells two different stories: XBIT led by 17.1 percentage points, -51.0% for SES against -33.9% for XBIT. One caveat on sizing: SES is 4.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
SES vs XBIT: side by side
| SES (SES AI Corporation) | XBIT (XBiotech Inc.) | |
|---|---|---|
| 1-year return | -51.0% | -33.9% |
| 5-year return | -94.5% | -85.8% |
| Volatility (ann.) | 294.5% | 60.9% |
| Beta vs S&P 500 | 2.43 | 1.09 |
| Max drawdown (3Y) | -89.7% | -78.6% |
| Market cap | $0.2B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SES | XBIT |
|---|---|---|
| 2022 | -68.3% | -68.5% |
| 2023 | -41.9% | +14.0% |
| 2024 | +19.7% | -1.2% |
| 2025 | -17.8% | -39.5% |
| 2026 | -69.5% | -3.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SES and XBIT good diversifiers for each other?
Yes. With a correlation of -0.34, SES and XBIT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SES and XBIT?
As of 2026-08-27, the correlation of weekly returns between SES and XBIT is -0.34 over 3 years, -0.06 over 1 year and -0.25 over 5 years.
Is XBIT a good diversifier for SES?
Yes. With a correlation of -0.34, SES and XBIT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.34 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/ses-vs-xbit.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ses-vs-xbit/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SES correlations · XBIT correlations
