ALEC vs SPY: Correlation
Measured on weekly returns over the past three years, Alector, Inc. (ALEC) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.33, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALEC and SPY?
Across a 3-year window, the weekly returns of ALEC and SPY correlate at 0.33, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.16 versus 0.33 over 3 years. Stretching to 5 years gives 0.30, with an annualized covariance of 429.5 %².
By 3-year correlation, SPY places #6 of the 11 assets tracked against ALEC. The last year tells two different stories: SPY led by 21.0 percentage points, -0.4% for ALEC against +20.6% for SPY. Risk is not evenly split, since ALEC carries 6.2 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.
ALEC vs SPY: side by side
| ALEC (Alector, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -0.4% | +20.6% |
| 5-year return | -90.9% | +82.4% |
| Volatility (ann.) | 90.5% | 14.5% |
| Beta vs S&P 500 | 2.06 | 1.00 |
| Max drawdown (3Y) | -89.2% | -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 | ALEC | SPY |
|---|---|---|
| 2022 | -55.3% | -18.2% |
| 2023 | -13.5% | +26.2% |
| 2024 | -76.3% | +24.9% |
| 2025 | -17.5% | +17.7% |
| 2026 | +53.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALEC and SPY good diversifiers for each other?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ALEC and SPY?
Using weekly returns as of 2026-08-27: 0.33 over 3 years, with 0.16 over the last year and 0.30 over 5 years.
Is SPY a good diversifier for ALEC?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.33 mean?
A reading of 0.33 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/alec-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/alec-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ALEC correlations · SPY correlations
