AIM vs SPY: Correlation
How closely do AIM ImmunoTech Inc. (AIM) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.13, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIM and SPY?
Across a 3-year window, the weekly returns of AIM and SPY correlate at 0.13, weak. The relationship has been stable: the 1-year correlation (0.05) sits close to the 3-year figure. Stretching to 5 years gives 0.12, with an annualized covariance of 225.1 %².
Among the 12 assets we track against AIM, SPY sits near the bottom by co-movement, at rank #8. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 110.3 percentage points (-89.7% for AIM against +20.6% for SPY). Note the risk asymmetry: AIM runs 8.3 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.
AIM vs SPY: side by side
| AIM (AIM ImmunoTech Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -89.7% | +20.6% |
| 5-year return | -99.9% | +82.4% |
| Volatility (ann.) | 120.5% | 14.5% |
| Beta vs S&P 500 | 1.08 | 1.00 |
| Max drawdown (3Y) | -99.7% | -18.8% |
| Market cap | – | – |
| 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 | AIM | SPY |
|---|---|---|
| 2022 | -66.3% | -18.2% |
| 2023 | +41.9% | +26.2% |
| 2024 | -54.5% | +24.9% |
| 2025 | -94.4% | +17.7% |
| 2026 | -77.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIM and SPY good diversifiers for each other?
Yes: at 0.13, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AIM and SPY?
The AIM/SPY correlation stands at 0.13 on a 3-year window (1 year: 0.05, 5 years: 0.12), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for AIM?
Yes: at 0.13, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.13 mean?
A reading of 0.13 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: AIM correlations · SPY correlations
