WS vs XBIT: Correlation
Measured on weekly returns over the past three years, Worthington Steel, Inc. (WS) and XBiotech Inc. (XBIT) carry a correlation of 0.31, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are WS and XBIT?
On 3 years of weekly data the WS/XBIT correlation comes out at 0.31, moderate. The link has loosened recently: the 1-year correlation (0.10) runs below the 3-year figure (0.31). The 5-year figure is n/a, and annualized covariance runs at 999.2 %².
Out of 14 assets tracked against WS, XBIT lands near the bottom at #11. Correlation aside, the last 12 months split them widely, with WS ahead by 38.7 points (+4.8% versus -33.9%).
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.
WS vs XBIT: side by side
| WS (Worthington Steel, Inc.) | XBIT (XBiotech Inc.) | |
|---|---|---|
| 1-year return | +4.8% | -33.9% |
| 5-year return | n/a | -85.8% |
| Volatility (ann.) | 51.2% | 60.9% |
| Beta vs S&P 500 | 1.67 | 1.09 |
| Max drawdown (3Y) | -51.0% | -78.6% |
| Market cap | $1.7B | $0.1B |
| P/E (trailing) | 201.9 | – |
| Dividend yield | 1.89% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | WS | XBIT |
|---|---|---|
| 2022 | – | -68.5% |
| 2023 | – | +14.0% |
| 2024 | +15.4% | -1.2% |
| 2025 | +11.2% | -39.5% |
| 2026 | -0.0% | -3.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are WS and XBIT good diversifiers for each other?
Reasonably. At 0.31, WS and XBIT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between WS and XBIT?
Using weekly returns as of 2026-08-27: 0.31 over 3 years, with 0.10 over the last year and n/a over 5 years.
Is XBIT a good diversifier for WS?
Reasonably. At 0.31, WS and XBIT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.31 mean?
A reading of 0.31 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/ws-vs-xbit.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ws-vs-xbit/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: WS correlations · XBIT correlations
