TYRA vs XBI: Correlation
How closely do Tyra Biosciences, Inc. (TYRA) and SPDR S&P Biotech ETF (XBI) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TYRA and XBI?
On 3 years of weekly data the TYRA/XBI correlation comes out at 0.43, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.31 versus 0.43 over 3 years. The 5-year figure is 0.42, and annualized covariance runs at 793.7 %².
By 3-year correlation, XBI places #5 of the 10 assets tracked against TYRA. Correlation aside, the last 12 months split them widely, with TYRA ahead by 15.7 points (+102.9% versus +87.2%). Risk is not evenly split, since TYRA carries 2.4 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.
TYRA vs XBI: side by side
| TYRA (Tyra Biosciences, Inc.) | XBI (SPDR S&P Biotech ETF) | |
|---|---|---|
| 1-year return | +102.9% | +87.2% |
| 5-year return | +0.5% | +28.6% |
| Volatility (ann.) | 66.7% | 27.7% |
| Beta vs S&P 500 | 1.45 | 1.09 |
| Max drawdown (3Y) | -75.3% | -33.0% |
| Market cap | $1.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | TYRA | XBI |
|---|---|---|
| 2022 | -46.0% | -25.9% |
| 2023 | +82.2% | +7.6% |
| 2024 | +0.4% | +1.0% |
| 2025 | +89.1% | +35.9% |
| 2026 | -0.6% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TYRA and XBI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between TYRA and XBI?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.31 over the last year and 0.42 over 5 years.
Is XBI a good diversifier for TYRA?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 mean?
A reading of 0.43 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: TYRA correlations · XBI correlations
