ATOM vs SPY: Correlation
Measured on weekly returns over the past three years, Atomera Incorporated (ATOM) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.22, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATOM and SPY?
On 3 years of weekly data the ATOM/SPY correlation comes out at 0.22, weak. Little has changed lately, as the 1-year reading of 0.29 lands near the 3-year figure. The 5-year figure is 0.29, and annualized covariance runs at 372.1 %².
SPY is close to the least connected end of ATOM's tracked universe, ranking #9 of 12. On 12-month performance ATOM holds a 11.3-point edge, +31.9% against +20.6%. Note the risk asymmetry: ATOM runs 8.1 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.
ATOM vs SPY: side by side
| ATOM (Atomera Incorporated) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +31.9% | +20.6% |
| 5-year return | -81.4% | +82.4% |
| Volatility (ann.) | 117.4% | 14.5% |
| Beta vs S&P 500 | 1.78 | 1.00 |
| Max drawdown (3Y) | -88.0% | -18.8% |
| Market cap | $0.2B | – |
| 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 | ATOM | SPY |
|---|---|---|
| 2022 | -69.1% | -18.2% |
| 2023 | +12.7% | +26.2% |
| 2024 | +65.5% | +24.9% |
| 2025 | -80.9% | +17.7% |
| 2026 | +102.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATOM and SPY good diversifiers for each other?
Reasonably. At 0.22, ATOM and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ATOM and SPY?
The ATOM/SPY correlation stands at 0.22 on a 3-year window (1 year: 0.29, 5 years: 0.29), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for ATOM?
Reasonably. At 0.22, ATOM and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.22 mean?
On the −1 to +1 scale, 0.22 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.
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Related comparisons
Hubs: ATOM correlations · SPY correlations
