COYA vs. XBI

Last updated Jun 6, 2026

COYA (Coya Therapeutics Inc.) is a stock, while XBI (SPDR S&P Biotech ETF) is Health & Biotech Equities fund tracking the S&P Biotechnology Select Industry Index. Over the past 3 years, COYA returned 0.61%/yr vs 13.65%/yr for XBI. At a 0.33 correlation, their price movements are largely independent.

Performance

COYA vs. XBI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Coya Therapeutics Inc. (COYA) and SPDR S&P Biotech ETF (XBI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, COYA achieves a -23.79% return, which is significantly lower than XBI's 5.53% return.

COYA

• 1D: -9.24%
• 1M: 4.25%
• YTD: -23.79%
• 6M: -26.58%
• 1Y: -23.40%
• 3Y*: 0.61%
• 5Y*: —
• 10Y*: —

XBI

• 1D: -3.56%
• 1M: -6.54%
• YTD: 5.53%
• 6M: 4.61%
• 1Y: 56.42%
• 3Y*: 13.65%
• 5Y*: 0.41%
• 10Y*: 8.33%

*Multi-year figures are annualized to reflect compound growth (CAGR)

COYA vs. XBI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
COYA Coya Therapeutics Inc.	-23.79%	1.22%	-22.67%	56.39%	3.68%
XBI SPDR S&P Biotech ETF	5.53%	35.89%	1.01%	7.60%	0.89%

Correlation

The correlation between COYA and XBI is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (All Time) Calculated using the full available price history since Dec 30, 2022	0.33

The correlation between COYA and XBI shifts across timeframes, from 0.33 (all time) to 0.44 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

COYA vs. XBI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

COYA

COYA Risk / Return Rank: 26
COYA Sharpe Ratio Rank: 26
COYA Sortino Ratio Rank: 27
COYA Omega Ratio Rank: 28
COYA Calmar Ratio Rank: 25
COYA Martin Ratio Rank: 25

XBI

XBI Risk / Return Rank: 74
XBI Sharpe Ratio Rank: 68
XBI Sortino Ratio Rank: 67
XBI Omega Ratio Rank: 60
XBI Calmar Ratio Rank: 91
XBI Martin Ratio Rank: 85

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

COYA vs. XBI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Coya Therapeutics Inc. (COYA) and SPDR S&P Biotech ETF (XBI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	COYA	XBI	Difference
Sharpe ratio: Return per unit of total volatility	-0.37	2.19	-2.56
Sortino ratio: Return per unit of downside risk	-0.15	3.01	-3.16
Omega ratio: Gain probability vs. loss probability	0.98	1.36	-0.37
Calmar ratio: Return relative to maximum drawdown	-0.48	5.83	-6.32
Martin ratio: Return relative to average drawdown	-0.87	17.50	-18.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

COYA vs. XBI - Sharpe Ratio Comparison

The current COYA Sharpe Ratio is -0.37, which is lower than the XBI Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of COYA and XBI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	COYA	XBI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.37	2.19	-2.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.01	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.26	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.01	0.36	-0.37

Drawdowns

COYA vs. XBI - Drawdown Comparison

The maximum COYA drawdown since its inception was -62.90%, roughly equal to the maximum XBI drawdown of -63.89%. Use the drawdown chart below to compare losses from any high point for COYA and XBI.

Drawdown Indicators

	COYA	XBI	Difference
Max Drawdown Largest peak-to-trough decline	-62.90%	-63.89%	+0.99%
Max Drawdown (1Y) Largest decline over 1 year	-48.64%	-9.72%	-38.92%
Max Drawdown (3Y) Largest decline over 3 years	-62.90%	-32.99%	-29.91%
Max Drawdown (5Y) Largest decline over 5 years	—	-54.71%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-63.89%	—
Current Drawdown Current decline from peak	-56.62%	-25.63%	-30.99%
Average Drawdown Average peak-to-trough decline	-31.15%	-20.93%	-10.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.78%	3.23%	+23.55%

Volatility

COYA vs. XBI - Volatility Comparison

Coya Therapeutics Inc. (COYA) has a higher volatility of 23.41% compared to SPDR S&P Biotech ETF (XBI) at 9.84%. This indicates that COYA's price experiences larger fluctuations and is considered to be riskier than XBI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COYA	XBI	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.41%	9.84%	+13.57%
Volatility (6M) Calculated over the trailing 6-month period	44.41%	20.47%	+23.94%
Volatility (1Y) Calculated over the trailing 1-year period	64.20%	25.87%	+38.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	70.30%	32.23%	+38.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	70.30%	32.01%	+38.29%

Dividends

COYA vs. XBI - Dividend Comparison

COYA has not paid dividends to shareholders, while XBI's dividend yield for the trailing twelve months is around 0.34%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COYA Coya Therapeutics Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XBI SPDR S&P Biotech ETF	0.34%	0.37%	0.15%	0.02%	0.00%	0.04%	0.20%	0.00%	0.28%	0.24%	0.26%	0.61%

Frequently Asked Questions

Can I hold both COYA and XBI in my portfolio?

COYA and XBI have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, COYA or XBI?

COYA has higher volatility (23.41%) compared to XBI (9.84%). In terms of maximum drawdown, COYA dropped -62.90% vs XBI's -63.89%.

Which has better risk-adjusted returns?

XBI currently has the higher Sharpe Ratio (2.19 vs -0.37), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.