SGMT vs XBI: Correlation
How closely do Sagimet Biosciences Inc. - Series A (SGMT) and SPDR S&P Biotech ETF (XBI) trade together? Their weekly returns over three years give a correlation of 0.45, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SGMT and XBI?
Across a 3-year window, the weekly returns of SGMT and XBI correlate at 0.45, moderate. The relationship has been stable: the 1-year correlation (0.36) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 1569.9 %².
In SGMT's tracked universe of 11 assets, XBI sits right near the top at #3. Their recent paths diverged sharply: over the last 12 months XBI outperformed by 49.0 percentage points (+38.2% for SGMT against +87.2% for XBI). Risk is not evenly split, since SGMT carries 4.6 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.
SGMT vs XBI: side by side
| SGMT (Sagimet Biosciences Inc. - Series A) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +38.2% | +87.2% |
| 5-year return | n/a | +28.6% |
| Volatility (ann.) | 126.2% | 27.7% |
| Beta vs S&P 500 | 3.24 | 1.09 |
| Max drawdown (3Y) | -89.7% | -33.0% |
| Market cap | $0.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | SGMT | XBI |
|---|---|---|
| 2022 | – | -25.9% |
| 2023 | – | +7.6% |
| 2024 | -17.0% | +1.0% |
| 2025 | +31.6% | +35.9% |
| 2026 | +81.6% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SGMT and XBI good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SGMT and XBI?
The SGMT/XBI correlation stands at 0.45 on a 3-year window (1 year: 0.36, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is XBI a good diversifier for SGMT?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 mean?
A reading of 0.45 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/sgmt-vs-xbi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/sgmt-vs-xbi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SGMT correlations · XBI correlations
