AYTU vs SPY: Correlation
Aytu BioPharma, Inc. (AYTU) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AYTU and SPY?
On 3 years of weekly data the AYTU/SPY correlation comes out at 0.26, weak. Lately the two have drifted apart, with the 1-year correlation at 0.09 versus 0.26 over 3 years. The 5-year figure is 0.21, and annualized covariance runs at 300.7 %².
SPY is close to the least connected end of AYTU's tracked universe, ranking #10 of 14. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 24.5 percentage points (-3.9% for AYTU against +20.6% for SPY). Risk is not evenly split, since AYTU carries 5.6 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.
AYTU vs SPY: side by side
| AYTU (Aytu BioPharma, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -3.9% | +20.6% |
| 5-year return | -97.0% | +82.4% |
| Volatility (ann.) | 80.5% | 14.5% |
| Beta vs S&P 500 | 1.44 | 1.00 |
| Max drawdown (3Y) | -70.2% | -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 | AYTU | SPY |
|---|---|---|
| 2022 | -85.9% | -18.2% |
| 2023 | -25.3% | +26.2% |
| 2024 | -40.1% | +24.9% |
| 2025 | +52.9% | +17.7% |
| 2026 | -13.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AYTU and SPY good diversifiers for each other?
Reasonably. At 0.26, AYTU and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AYTU and SPY?
The AYTU/SPY correlation stands at 0.26 on a 3-year window (1 year: 0.09, 5 years: 0.21), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for AYTU?
Reasonably. At 0.26, AYTU and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.26 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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Related comparisons
Hubs: AYTU correlations · SPY correlations
