ACRS vs SPY: Correlation
Aclaris Therapeutics, Inc. (ACRS) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.17.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACRS and SPY?
Across a 3-year window, the weekly returns of ACRS and SPY correlate at 0.17, weak. The relationship has been stable: the 1-year correlation (0.10) sits close to the 3-year figure. Stretching to 5 years gives 0.20, with an annualized covariance of 262.1 %².
Among the 14 assets we track against ACRS, SPY ranks #9 by 3-year correlation. The last year tells two different stories: ACRS led by 217.9 percentage points, +238.5% for ACRS against +20.6% for SPY. Note the risk asymmetry: ACRS runs 7.3 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.
ACRS vs SPY: side by side
| ACRS (Aclaris Therapeutics, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +238.5% | +20.6% |
| 5-year return | -60.0% | +82.4% |
| Volatility (ann.) | 105.3% | 14.5% |
| Beta vs S&P 500 | 1.25 | 1.00 |
| Max drawdown (3Y) | -91.9% | -18.8% |
| Market cap | $0.9B | – |
| 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 | ACRS | SPY |
|---|---|---|
| 2022 | +8.3% | -18.2% |
| 2023 | -93.3% | +26.2% |
| 2024 | +136.2% | +24.9% |
| 2025 | +21.4% | +17.7% |
| 2026 | +104.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACRS and SPY good diversifiers for each other?
Yes: at 0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ACRS and SPY?
Using weekly returns as of 2026-08-27: 0.17 over 3 years, with 0.10 over the last year and 0.20 over 5 years.
Is SPY a good diversifier for ACRS?
Yes: at 0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.17 mean?
On the −1 to +1 scale, 0.17 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: ACRS correlations · SPY correlations
