SVRA vs XBI: Correlation
How closely do Savara, Inc. (SVRA) and SPDR S&P Biotech ETF (XBI) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SVRA and XBI?
Across a 3-year window, the weekly returns of SVRA and XBI correlate at 0.55, moderate. Recent behaviour matches the longer record: 0.56 over 1 year against 0.55 over 3. Stretching to 5 years gives 0.49, with an annualized covariance of 806.8 %².
XBI is one of the assets that tracks SVRA most closely: it ranks #1 out of the 10 assets we track against SVRA. The last year tells two different stories: XBI led by 20.3 percentage points, +66.9% for SVRA against +87.2% for XBI. One caveat on sizing: SVRA is 1.9 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.
SVRA vs XBI: side by side
| SVRA (Savara, Inc.) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +66.9% | +87.2% |
| 5-year return | +286.6% | +28.6% |
| Volatility (ann.) | 53.3% | 27.7% |
| Beta vs S&P 500 | 1.15 | 1.09 |
| Max drawdown (3Y) | -65.3% | -33.0% |
| Market cap | $1.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | SVRA | XBI |
|---|---|---|
| 2022 | +25.0% | -25.9% |
| 2023 | +203.2% | +7.6% |
| 2024 | -34.7% | +1.0% |
| 2025 | +96.4% | +35.9% |
| 2026 | -9.0% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SVRA and XBI good diversifiers for each other?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between SVRA and XBI?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.56 over the last year and 0.49 over 5 years.
Is XBI a good diversifier for SVRA?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.55 mean?
On the −1 to +1 scale, 0.55 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/svra-vs-xbi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/svra-vs-xbi/)
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Related comparisons
Hubs: SVRA correlations · XBI correlations
