ABAT vs SPY: Correlation
Measured on weekly returns over the past three years, American Battery Technology Company (ABAT) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.19, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABAT and SPY?
Over the past 3 years, ABAT and SPY moved with a correlation of 0.19, which is weak. The past 12 months show a tighter link (0.31) than the 3-year average (0.19). Over 5 years the correlation is 0.20, and the annualized covariance of weekly returns is 433.8 %².
Among the 29 assets we track against ABAT, SPY sits near the bottom by co-movement, at rank #25. Correlation aside, the last 12 months split them widely, with SPY ahead by 18.5 points (+2.1% versus +20.6%). One caveat on sizing: ABAT is 10.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ABAT vs SPY: side by side
| ABAT (American Battery Technology Company) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +2.1% | +20.6% |
| 5-year return | -88.8% | +82.4% |
| Volatility (ann.) | 153.9% | 14.5% |
| Beta vs S&P 500 | 2.08 | 1.00 |
| Max drawdown (3Y) | -93.2% | -18.8% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | US Listed | ETF · US Large Cap |
SPY is a Large Blend fund from State Street Investment Management: $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | ABAT | SPY |
|---|---|---|
| 2022 | -62.0% | -18.2% |
| 2023 | -23.2% | +26.2% |
| 2024 | -47.5% | +24.9% |
| 2025 | +35.8% | +17.7% |
| 2026 | -19.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABAT and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between ABAT and SPY?
As of 2026-08-27, the correlation of weekly returns between ABAT and SPY is 0.19 over 3 years, 0.31 over 1 year and 0.20 over 5 years.
Is SPY a good diversifier for ABAT?
By historical standards, yes. A correlation of 0.19 means the two rarely move for the same reasons.
What does a correlation of 0.19 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: ABAT correlations · SPY correlations
