SYRE vs XBI: Correlation
Spyre Therapeutics, Inc. (SYRE) and SPDR S&P Biotech ETF (XBI) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SYRE and XBI?
Across a 3-year window, the weekly returns of SYRE and XBI correlate at 0.45, moderate. The link has loosened recently: the 1-year correlation (0.34) runs below the 3-year figure (0.45). Stretching to 5 years gives 0.20, with an annualized covariance of 1039.6 %².
Within SYRE's tracked universe of 15 assets, XBI comes in at #4 by 3-year correlation. The last year tells two different stories: SYRE led by 359.0 percentage points, +446.2% for SYRE against +87.2% for XBI. Note the risk asymmetry: SYRE runs 3.0 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.
SYRE vs XBI: side by side
| SYRE (Spyre Therapeutics, Inc.) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +446.2% | +87.2% |
| 5-year return | -47.5% | +28.6% |
| Volatility (ann.) | 83.8% | 27.7% |
| Beta vs S&P 500 | 1.80 | 1.09 |
| Max drawdown (3Y) | -74.0% | -33.0% |
| Market cap | $8.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | SYRE | XBI |
|---|---|---|
| 2022 | -90.5% | -25.9% |
| 2023 | +91.3% | +7.6% |
| 2024 | +8.2% | +1.0% |
| 2025 | +40.7% | +35.9% |
| 2026 | +185.8% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SYRE and XBI good diversifiers for each other?
Reasonably. At 0.45, SYRE and XBI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between SYRE and XBI?
The SYRE/XBI correlation stands at 0.45 on a 3-year window (1 year: 0.34, 5 years: 0.20), computed from weekly returns as of 2026-08-27.
Is XBI a good diversifier for SYRE?
Reasonably. At 0.45, SYRE and XBI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
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/syre-vs-xbi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/syre-vs-xbi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SYRE correlations · XBI correlations
