WINA vs XBIO: Correlation
How closely do Winmark Corporation (WINA) and Xenetic Biosciences, Inc. (XBIO) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are WINA and XBIO?
Over the past 3 years, WINA and XBIO moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.34) runs below the 3-year figure (-0.22). Over 5 years the correlation is -0.09, and the annualized covariance of weekly returns is -707.9 %².
Out of 12 assets tracked against WINA, XBIO lands near the bottom at #9. The last year tells two different stories: XBIO led by 64.1 percentage points, -24.3% for WINA against +39.8% for XBIO. Risk is not evenly split, since XBIO carries 2.5 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.
WINA vs XBIO: side by side
| WINA (Winmark Corporation) | XBIO (Xenetic Biosciences, Inc.) | |
|---|---|---|
| 1-year return | -24.3% | +39.8% |
| 5-year return | +89.5% | -86.8% |
| Volatility (ann.) | 35.4% | 90.1% |
| Beta vs S&P 500 | 0.47 | 0.46 |
| Max drawdown (3Y) | -34.0% | -80.5% |
| Market cap | $1.2B | – |
| P/E (trailing) | 30.4 | – |
| Dividend yield | 1.13% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | WINA | XBIO |
|---|---|---|
| 2022 | -2.8% | -77.9% |
| 2023 | +82.6% | +21.1% |
| 2024 | -3.3% | +15.7% |
| 2025 | +6.4% | -45.6% |
| 2026 | -16.6% | +82.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are WINA and XBIO good diversifiers for each other?
Yes. With a correlation of -0.22, WINA and XBIO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between WINA and XBIO?
The WINA/XBIO correlation stands at -0.22 on a 3-year window (1 year: -0.34, 5 years: -0.09), computed from weekly returns as of 2026-08-27.
Is XBIO a good diversifier for WINA?
Yes. With a correlation of -0.22, WINA and XBIO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
A reading of -0.22 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/wina-vs-xbio.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/wina-vs-xbio/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: WINA correlations · XBIO correlations
