ACB vs SPY: Correlation
Aurora Cannabis Inc. (ACB) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACB and SPY?
Across a 3-year window, the weekly returns of ACB and SPY correlate at 0.19, weak. Lately the two have moved closer together, with the 1-year correlation at 0.32 versus 0.19 over 3 years. Stretching to 5 years gives 0.25, with an annualized covariance of 256.3 %².
Among the 15 assets we track against ACB, SPY sits near the bottom by co-movement, at rank #11. Correlation aside, the last 12 months split them widely, with SPY ahead by 45.4 points (-24.8% versus +20.6%). Note the risk asymmetry: ACB runs 6.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ACB vs SPY: side by side
| ACB (Aurora Cannabis Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -24.8% | +20.6% |
| 5-year return | -94.4% | +82.4% |
| Volatility (ann.) | 94.9% | 14.5% |
| Beta vs S&P 500 | 1.23 | 1.00 |
| Max drawdown (3Y) | -73.8% | -18.8% |
| Market cap | $0.3B | – |
| 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 | ACB | SPY |
|---|---|---|
| 2022 | -82.9% | -18.2% |
| 2023 | -48.4% | +26.2% |
| 2024 | -10.7% | +24.9% |
| 2025 | -0.7% | +17.7% |
| 2026 | -5.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACB 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 ACB and SPY?
Using weekly returns as of 2026-08-27: 0.19 over 3 years, with 0.32 over the last year and 0.25 over 5 years.
Is SPY a good diversifier for ACB?
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?
A reading of 0.19 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: ACB correlations · SPY correlations
