AVXL vs SPY: Correlation
Anavex Life Sciences Corp. (AVXL) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVXL and SPY?
Across a 3-year window, the weekly returns of AVXL and SPY correlate at 0.35, moderate. The link has tightened recently: the 1-year correlation (0.45) runs above the 3-year figure (0.35). Stretching to 5 years gives 0.37, with an annualized covariance of 426.2 %².
Out of 11 assets tracked against AVXL, SPY lands near the bottom at #7. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 87.5 percentage points (-66.9% for AVXL against +20.6% for SPY). Note the risk asymmetry: AVXL runs 5.8 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.
AVXL vs SPY: side by side
| AVXL (Anavex Life Sciences Corp.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -66.9% | +20.6% |
| 5-year return | -83.1% | +82.4% |
| Volatility (ann.) | 84.1% | 14.5% |
| Beta vs S&P 500 | 2.04 | 1.00 |
| Max drawdown (3Y) | -82.6% | -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 | AVXL | SPY |
|---|---|---|
| 2022 | -46.6% | -18.2% |
| 2023 | +0.5% | +26.2% |
| 2024 | +15.4% | +24.9% |
| 2025 | -66.9% | +17.7% |
| 2026 | -12.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVXL and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AVXL and SPY?
The AVXL/SPY correlation stands at 0.35 on a 3-year window (1 year: 0.45, 5 years: 0.37), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for AVXL?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Hubs: AVXL correlations · SPY correlations
