ANAB vs SPY: Correlation
Measured on weekly returns over the past three years, AnaptysBio, Inc. (ANAB) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.20, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANAB and SPY?
Across a 3-year window, the weekly returns of ANAB and SPY correlate at 0.20, weak. Recent behaviour matches the longer record: 0.13 over 1 year against 0.20 over 3. Stretching to 5 years gives 0.17, with an annualized covariance of 215.1 %².
Out of 10 assets tracked against ANAB, SPY lands near the bottom at #6. The last year tells two different stories: ANAB led by 300.6 percentage points, +321.2% for ANAB against +20.6% for SPY. Risk is not evenly split, since ANAB carries 5.2 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.
ANAB vs SPY: side by side
| ANAB (AnaptysBio, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +321.2% | +20.6% |
| 5-year return | +243.9% | +82.4% |
| Volatility (ann.) | 74.9% | 14.5% |
| Beta vs S&P 500 | 1.03 | 1.00 |
| Max drawdown (3Y) | -69.3% | -18.8% |
| Market cap | $1.7B | – |
| 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 | ANAB | SPY |
|---|---|---|
| 2022 | -10.8% | -18.2% |
| 2023 | -30.9% | +26.2% |
| 2024 | -38.2% | +24.9% |
| 2025 | +266.2% | +17.7% |
| 2026 | +77.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANAB and SPY good diversifiers for each other?
Reasonably. At 0.20, ANAB and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ANAB and SPY?
As of 2026-08-27, the correlation of weekly returns between ANAB and SPY is 0.20 over 3 years, 0.13 over 1 year and 0.17 over 5 years.
Is SPY a good diversifier for ANAB?
Reasonably. At 0.20, ANAB and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.20 mean?
A reading of 0.20 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: ANAB correlations · SPY correlations
