ANVS vs SPY: Correlation
How closely do Annovis Bio, Inc. (ANVS) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.29, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANVS and SPY?
Over the past 3 years, ANVS and SPY moved with a correlation of 0.29, which is weak. The relationship has been stable: the 1-year correlation (0.24) sits close to the 3-year figure. Over 5 years the correlation is 0.27, and the annualized covariance of weekly returns is 548.3 %².
Out of 10 assets tracked against ANVS, SPY lands near the bottom at #7. Correlation aside, the last 12 months split them widely, with SPY ahead by 43.6 points (-23.0% versus +20.6%). Note the risk asymmetry: ANVS runs 9.0 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.
ANVS vs SPY: side by side
| ANVS (Annovis Bio, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -23.0% | +20.6% |
| 5-year return | -95.0% | +82.4% |
| Volatility (ann.) | 130.1% | 14.5% |
| Beta vs S&P 500 | 2.62 | 1.00 |
| Max drawdown (3Y) | -93.8% | -18.8% |
| Market cap | $0.1B | – |
| 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 | ANVS | SPY |
|---|---|---|
| 2022 | -23.6% | -18.2% |
| 2023 | +39.2% | +26.2% |
| 2024 | -73.1% | +24.9% |
| 2025 | -31.2% | +17.7% |
| 2026 | -47.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANVS and SPY good diversifiers for each other?
Reasonably. At 0.29, ANVS and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ANVS and SPY?
Using weekly returns as of 2026-08-27: 0.29 over 3 years, with 0.24 over the last year and 0.27 over 5 years.
Is SPY a good diversifier for ANVS?
Reasonably. At 0.29, ANVS and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.29 mean?
On the −1 to +1 scale, 0.29 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/anvs-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/anvs-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ANVS correlations · SPY correlations
