SLDB vs XBI: Correlation
How closely do Solid Biosciences Inc. (SLDB) 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 SLDB and XBI?
On 3 years of weekly data the SLDB/XBI correlation comes out at 0.54, moderate. Little has changed lately, as the 1-year reading of 0.53 lands near the 3-year figure. The 5-year figure is 0.52, and annualized covariance runs at 1542.8 %².
In SLDB's tracked universe of 14 assets, XBI sits right near the top at #1. The trailing year gives XBI the advantage: +80.2% versus +87.2%, a 7.0-point spread. Note the risk asymmetry: SLDB runs 3.7 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.
SLDB vs XBI: side by side
| SLDB (Solid Biosciences Inc.) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +80.2% | +87.2% |
| 5-year return | -75.0% | +28.6% |
| Volatility (ann.) | 103.6% | 27.7% |
| Beta vs S&P 500 | 2.35 | 1.09 |
| Max drawdown (3Y) | -82.9% | -33.0% |
| Market cap | $1.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | SLDB | XBI |
|---|---|---|
| 2022 | -79.5% | -25.9% |
| 2023 | +14.1% | +7.6% |
| 2024 | -34.9% | +1.0% |
| 2025 | +41.0% | +35.9% |
| 2026 | +79.6% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SLDB and XBI good diversifiers for each other?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between SLDB and XBI?
The SLDB/XBI correlation stands at 0.54 on a 3-year window (1 year: 0.53, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is XBI a good diversifier for SLDB?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.54 mean?
A reading of 0.54 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/sldb-vs-xbi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/sldb-vs-xbi/)
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Related comparisons
Hubs: SLDB correlations · XBI correlations
