TMQ vs XBIO: Correlation
How closely do Trilogy Metals Inc. (TMQ) and Xenetic Biosciences, Inc. (XBIO) 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 TMQ and XBIO?
Over the past 3 years, TMQ and XBIO moved with a correlation of 0.55, which is moderate. The link has tightened recently: the 1-year correlation (0.79) runs above the 3-year figure (0.55). Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 6523.0 %².
XBIO is one of the assets that tracks TMQ most closely: it ranks #3 out of the 23 assets we track against TMQ. Correlation aside, the last 12 months split them widely, with TMQ ahead by 86.5 points (+126.3% versus +39.8%).
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.
TMQ vs XBIO: side by side
| TMQ (Trilogy Metals Inc.) | XBIO (Xenetic Biosciences, Inc.) | |
|---|---|---|
| 1-year return | +126.3% | +39.8% |
| 5-year return | +85.3% | -86.8% |
| Volatility (ann.) | 131.6% | 90.1% |
| Beta vs S&P 500 | 0.28 | 0.46 |
| Max drawdown (3Y) | -72.5% | -80.5% |
| Market cap | $0.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TMQ | XBIO |
|---|---|---|
| 2022 | -66.7% | -77.9% |
| 2023 | -21.8% | +21.1% |
| 2024 | +169.8% | +15.7% |
| 2025 | +271.6% | -45.6% |
| 2026 | -12.3% | +82.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TMQ and XBIO good diversifiers for each other?
Only partially. A correlation of 0.55 means TMQ and XBIO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between TMQ and XBIO?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.79 over the last year and 0.48 over 5 years.
Is XBIO a good diversifier for TMQ?
Only partially. A correlation of 0.55 means TMQ and XBIO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.55 mean?
A reading of 0.55 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/tmq-vs-xbio.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/tmq-vs-xbio/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TMQ correlations · XBIO correlations
