ADPT vs SPY: Correlation
Measured on weekly returns over the past three years, Adaptive Biotechnologies Corporation (ADPT) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.29, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADPT and SPY?
Across a 3-year window, the weekly returns of ADPT and SPY correlate at 0.29, weak. The past 12 months show a weaker link (0.04) than the 3-year average (0.29). Stretching to 5 years gives 0.41, with an annualized covariance of 292.6 %².
Among the 12 assets we track against ADPT, SPY sits near the bottom by co-movement, at rank #8. Their recent paths diverged sharply: over the last 12 months ADPT outperformed by 83.3 percentage points (+103.9% for ADPT against +20.6% for SPY). Risk is not evenly split, since ADPT carries 4.8 times the volatility of the other side.
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.
ADPT vs SPY: side by side
| ADPT (Adaptive Biotechnologies Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +103.9% | +20.6% |
| 5-year return | -26.1% | +82.4% |
| Volatility (ann.) | 69.8% | 14.5% |
| Beta vs S&P 500 | 1.40 | 1.00 |
| Max drawdown (3Y) | -65.8% | -18.8% |
| Market cap | $4.2B | – |
| 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 | ADPT | SPY |
|---|---|---|
| 2022 | -72.8% | -18.2% |
| 2023 | -35.9% | +26.2% |
| 2024 | +22.3% | +24.9% |
| 2025 | +170.9% | +17.7% |
| 2026 | +62.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADPT and SPY good diversifiers for each other?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ADPT and SPY?
As of 2026-08-27, the correlation of weekly returns between ADPT and SPY is 0.29 over 3 years, 0.04 over 1 year and 0.41 over 5 years.
Is SPY a good diversifier for ADPT?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.29 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: ADPT correlations · SPY correlations
