TECH vs XBI: Correlation
How closely do Bio-Techne (TECH) and SPDR S&P Biotech ETF (XBI) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TECH and XBI?
Over the past 3 years, TECH and XBI moved with a correlation of 0.56, which is moderate. Little has changed lately, as the 1-year reading of 0.55 lands near the 3-year figure. Over 5 years the correlation is 0.56, and the annualized covariance of weekly returns is 654.5 %².
Among the 39 assets we track against TECH, XBI ranks #15 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months XBI outperformed by 57.6 percentage points (+29.6% for TECH against +87.2% for XBI). The link looks structural: the rolling one-year correlation barely moved, holding between 0.47 and 0.70. Risk is not evenly split, since TECH carries 1.5 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.
TECH vs XBI: side by side
| TECH (Bio-Techne) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +29.6% | +87.2% |
| 5-year return | -41.4% | +28.6% |
| Volatility (ann.) | 41.9% | 27.7% |
| Beta vs S&P 500 | 0.90 | 1.09 |
| Max drawdown (3Y) | -48.1% | -33.0% |
| Market cap | $11.4B | – |
| P/E (trailing) | 62.5 | – |
| Dividend yield | 0.44% | – |
| Sector / category | Health Care | ETF · Thematic |
Year-by-year returns
| Year | TECH | XBI |
|---|---|---|
| 2022 | -35.7% | -25.9% |
| 2023 | -6.5% | +7.6% |
| 2024 | -6.2% | +1.0% |
| 2025 | -17.9% | +35.9% |
| 2026 | +23.8% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TECH and XBI good diversifiers for each other?
To a limited degree. At 0.56 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 TECH and XBI?
The TECH/XBI correlation stands at 0.56 on a 3-year window (1 year: 0.55, 5 years: 0.56), computed from weekly returns as of 2026-08-27.
Is XBI a good diversifier for TECH?
To a limited degree. At 0.56 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 0.56 mean?
A reading of 0.56 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/tech-vs-xbi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/tech-vs-xbi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TECH correlations · XBI correlations
