ATOS vs SPY: Correlation
Atossa Therapeutics, Inc. (ATOS) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATOS and SPY?
On 3 years of weekly data the ATOS/SPY correlation comes out at 0.39, moderate. The link has loosened recently: the 1-year correlation (0.26) runs below the 3-year figure (0.39). The 5-year figure is 0.39, and annualized covariance runs at 410.7 %².
Within ATOS's tracked universe of 14 assets, SPY comes in at #7 by 3-year correlation. The last year tells two different stories: SPY led by 97.4 percentage points, -76.8% for ATOS against +20.6% for SPY. Note the risk asymmetry: ATOS runs 5.1 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.
ATOS vs SPY: side by side
| ATOS (Atossa Therapeutics, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -76.8% | +20.6% |
| 5-year return | -95.0% | +82.4% |
| Volatility (ann.) | 73.3% | 14.5% |
| Beta vs S&P 500 | 1.97 | 1.00 |
| Max drawdown (3Y) | -94.4% | -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 | ATOS | SPY |
|---|---|---|
| 2022 | -66.9% | -18.2% |
| 2023 | +66.0% | +26.2% |
| 2024 | +6.8% | +24.9% |
| 2025 | -37.2% | +17.7% |
| 2026 | -70.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATOS and SPY good diversifiers for each other?
Reasonably. At 0.39, ATOS and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ATOS and SPY?
The ATOS/SPY correlation stands at 0.39 on a 3-year window (1 year: 0.26, 5 years: 0.39), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for ATOS?
Reasonably. At 0.39, ATOS and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 mean?
A reading of 0.39 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: ATOS correlations · SPY correlations
